Constellation Pharmaceuticals Inc., of Cambridge, Mass., said it priced an underwritten public offering of 6.5 million shares at $34.50 each, for total gross proceeds of $224.3 million. The underwriters in the offering have been granted a 30-day option to purchase up to 975,000 additional shares of its common stock at the public offering price. The company’s shares (NASDAQ:CNST) closed Wednesday at $36.09, up 58 cents.
Marinus Pharmaceuticals Inc., of Radnor, Pa., said it priced an underwritten public offering of 28 million shares at $1.25 each. The gross proceeds and a concurrent private placement are expected to be approximately $65 million. The underwriters participating in the offering have been granted a 30-day option to purchase up to an additional 4.2 million shares of common stock. With the completion of the public offering, the company has agreed to sell to certain investors in a private placement, shares of convertible preferred stock equal to an aggregate purchase price of up to $30 million, at a conversion price of $1.25 per share. The net proceeds will be used to advance the preclinical and clinical development of ganaxolone, a GABAA receptor agonist targeting refractory status epilepticus, including expenses for clinical trials for seizure disorder programs, and regulatory, research and development, pre-commercial, general and administrative and manufacturing expenses and for working capital and general corporate purposes. The company’s shares (NASDAQ:MRNS) closed Wednesday at $1.78, up 38%, or 49 cents.
Momenta Pharmaceuticals Inc., of Cambridge, Mass., said it is starting an underwritten registered public offering of $200 million shares of its common stock. It expects to grant the underwriters of the offering an option to purchase up to an additional $30 million of shares of its common stock. The company’s shares (NASDAQ:MNTA) closed Wednesday at $15.71, down $2.36.
Onconova Therapeutics Inc., of Newtown, Pa., said it closed a registered direct offering of 14.32 million shares and warrants to purchase up to 7.16 million shares, at a combined purchase price of $0.349 per share and associated warrant, with an exercise price of $0.287 per share, for aggregate gross proceeds of approximately $5 million. The company intends to use the net proceeds for working capital and general corporate purposes.
Rocket Pharmaceuticals Inc., of New York, said it priced an underwritten public offering of 3.82 million shares at $22.25 each for gross proceeds of $84.99 million. The underwriters have been granted a 30-day option to purchase up to an additional 573,000 shares. The company intends to use the net proceeds to further fund the development of its pipeline of gene therapies for rare diseases, to support the buildout of in-house manufacturing capabilities, and for general corporate purposes. The company’s shares (NASDAQ:RCKT) closed Wednesday at $20.84, down $3.39.
Syndivia SAS, of Strasbourg, France, said it received a €1 million (US$1.109 million) investment from Cap Innov’Est, an inter-regionally based seed fund. It will enable the company to advance its pipeline of cancer therapies, including its lead drug candidate (SDV-1001) and completing its preclinical proof-of-concept study of the targeting of the microenvironment of solid tumors.