Arrowhead Pharmaceuticals Inc., of Pasadena, Calif., said it priced an underwritten public offering of 4 million shares of its common stock at $58 each for gross proceeds of approximately $232 million. The underwriters have been granted a 30-day option to purchase up to an additional 600,000 shares at the public offering price, less the underwriting discount. The company intends to use the net proceeds for general corporate purposes, including working capital, capital expenditures, research and development expenditures and clinical trial expenditures. The company’s shares (NASDAQ:ARWR) closed Wednesday at $66.46, down $2.20. 

Immunomedics Inc., of Morris Plains, N.J., said it started an underwritten public offering of $250 million of shares of its common stock and expects to grant the underwriters a 30-day option to purchase up to an aggregate of an additional $37.5 million of shares at the public offering price. It intends to use the net proceeds primarily to accelerate commercial launch readiness, pending FDA approval, of sacituzumab govitecan in the U.S. in metastatic triple-negative breast cancer, continue expansion the clinical development programs for the compound, continue scale-up of manufacturing and manufacturing process improvements, as well as for working capital and general corporate purposes. The company’s shares (NASDAQ:IMMU) closed Wednesday at $18.01, down 99 cents. 

Kane Biotech Inc., of Winnipeg, Manitoba, said it plans to undertake a nonbrokered private placement offering of up to 25 million units at CA14 cents each for gross proceeds of up to CA$3.5 million (US$2.65 million). Each unit consists of one common share and one-half of one common share purchase warrant, with a full warrant entitling the holder to purchase one additional common share at CA18 cents. 

Kodiak Sciences Inc., of Palo Alto, Calif., said it priced an underwritten public offering of 6 million shares at $46 each with the aggregate gross proceeds expected to be approximately $276 million. The underwriters have been granted a 30-day option to purchase up to an additional 900,000 shares at the public offering price. The company’s shares (NASDAQ:KOD) closed Wednesday at $73.41, up $24.21, or 49%. 

Laurent Pharmaceuticals Inc., of Montreal, said it received the final approval for a CA$2.7 million (US$2.04 million) loan from the Quebec Government through its Biomed Propulsion program. The loan will help support a phase II study evaluating LAU-7b in adult patients with cystic fibrosis (CF). LAU-7b is an oral drug acting on the resolution phase of inflammation, with the potential to treat the chronic pulmonary inflammation that leads to irreversible lung damage in patients with CF. The APPLAUD trial, which will enroll 136 patients, will evaluate LAU-7b’s effect on the preservation of lung function in adult patients with CF, by reducing persistent unresolved inflammation in the lung and stimulating the return to homeostasis.  

Relmada Therapeutics Inc., of New York, said it priced an underwritten offering of 3.33 million shares of its common stock at $30 each for gross proceeds of approximately $100 million. The underwriters have been granted a 30-day option to purchase up to an additional 500,000 shares at the public offering price. The net proceeds will be used to fund research and development activities for its clinical development programs related to its lead product candidate, REL-1017 (d-methadone), which is being developed as a rapidly acting, oral agent for the treatment of depression and other potential indications, as well as for working capital and general corporate purposes. The company’s shares (NASDAQ:RLMD) closed Wednesday at $47.18, up $12.72, or 37%. 

Revance Therapeutics Inc., of Newark, Calif., said it priced an underwritten public offering of 6.5 million shares at $17 each and granted the underwriters a 30-day option to purchase up to an aggregate of 975,000 additional shares. The gross proceeds from the offering, excluding any exercise by the underwriters of their 30-day option to purchase additional shares, are expected to be approximately $110.5 million. The net proceeds will continue to fund the commercialization of daxibotulinumtoxinA injection, and the remainder for working capital, research and development and general corporate purposes. The company’s shares (NASDAQ:RVNC) closed Wednesday at $16.61, down $3.54, or 17.6%. 

Therapix Biosciences Ltd., of Tel Aviv, Israel, said it issued to several accredited and institutional investors an aggregate of 1 million American depositary shares (ADSs) at $1.25 per ADS in a registered direct offering for gross proceeds $1.25 million. Therapix intends to use the net proceeds for general corporate purposes. The company’s shares (NASDAQ:TRPX) closed Wednesday flat at $1.29. 

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