Abeona Therapeutics Inc., of New York, said it priced a public offering of 26.98 million shares at $2.50 each, and in lieu of common stock, prefunded warrants to purchase 9.01 million shares at $2.4999 each. Gross proceeds from the offering are expected to be $90 million, In addition, the underwriters have been granted a 30-day option to purchase up to an additional 5.4 million shares. An existing holder of the company’s common stock, Great Point Partners, has agreed to purchase approximately $31 million in the offering, including prefunded warrants in lieu of common stock, subject to allocation by the underwriters and market and other conditions. The company intends to use the net proceeds to fund continued clinical development of pipeline products, as well as for working capital and corporate purposes. The company’s shares (NASDAQ:ABEO) closed Friday at $3.11, down $1.89.
Intelgenx Technologies Corp., of Saint Laurent, Quebec, said it filed a preliminary short form prospectus in connection with an offering of units generating a minimum of CA$4 million (US$3.03 million) and a maximum of CA$10 million (US$7.59 million) in gross proceeds. Each unit will consist of one share and one half of one common stock purchase warrant, with each whole warrant entitling the holder to purchase one share. The offering is being conducted on a commercially reasonable best efforts basis by Echelon Wealth Partners Inc. in the provinces of British Columbia, Alberta, Manitoba and Ontario. The net proceeds will be used for a phase IIa Montelukast Versafilm study in patients with mild-to-moderate Alzheimer's disease, and general working capital requirements.
Aptose Biosciences Inc., of San Diego, said it closed its underwritten public offering of 18.54 million common shares at $4 each for gross proceeds of approximately $74.2 million. The company’s shares (NASDAQ:APTO) closed Friday at $5.21, up 29 cents.
Capricor Therapeutics Inc., of Los Angeles, said it closed its offering priced at-the-market of 4.13 million shares at $1.226 each and associated warrant to purchase one share of common stock at an exercise price of $1.10. The gross proceeds were approximately $5.1 million and the net proceeds from the offering will be used to fund research and development of its exosome technologies and for general corporate purposes. The company’s shares (NASDAQ:CAPR) closed Friday at $1.05, up 2 cents.
Gensight Biologics SA, of Paris, said it has secured a bond financing of up to €12 million (US$13.29 million) from Kreos Capital VI (UK) Ltd. and will draw down the first tranche of €6 million concurrently with the completion of a capital increase of €9 million subscribed for by one of its main shareholders Sofinnova Crossover I SLP and by Strategic International Group Limited, a wholly owned subsidiary of 3Sbio Inc., a Shenyang, China-based biotech.
Kane Biotech Inc., of Winnipeg, Manitoba, closed the first tranche of its nonbrokered private placement offering and issued 17,918,137 common shares of the company at 14 cents per unit to raise $2,508,539.18. Kane expects to close one or more additional tranches for aggregate gross proceeds of up to $3.5 million. Net proceeds will be used for business development, technology and product commercialization, patent and trademark filings, regulatory expenses, clinical trials and general working capital. Kane Biotech is involved with the research, development and commercialization of technologies and products that prevent and remove microbial biofilms.
Nabriva Therapeutics plc, of Dublin, said it entered into a definitive agreement with institutional investors for the purchase and sale in a registered direct offering of an aggregate of 13.79 million ordinary shares and warrants to purchase up to 13.79 million ordinary shares at a combined purchase price of $1.45. The warrants have an exercise price of $1.90 per share. The gross proceeds are approximately $20 million. The company’s shares (NASDAQ:NBRV) closed Friday at $1.28, down 44 cents.
Onconova Therapeutics Inc., of Newtown, Pa., said it closed its registered direct offering, priced at-the-market, of 13.87 million shares and warrants to purchase up to 6.93 million shares of its common stock, at a combined purchase price of $0.36026 per share and associated warrant, for aggregate gross proceeds of approximately $5 million. The company intends to use the net proceeds for working capital and general corporate purposes. The company’s shares (NASDAQ:ONTX) closed Friday at $0.31, down .002 cents.
Savara Inc., of Austin, Texas, entered a definitive agreement for a private placement with institutional investors. Gross proceeds from the sales of common stock and prefunded warrants are expected to be $26.8 million. If the milestone warrants are exercised in full, Savara would receive additional gross proceeds of $48.2 million, resulting in a total of $75 million. The financing was led by Bain Capital Life Sciences, participants including Ecor1 Capital LLC and Logos Capital and is expected to close on Dec. 24, 2019. Net proceeds are expected to be used to fund a new clinical trial of Molgradex to treat autoimmune pulmonary alveolar proteinosis and for other general corporate purposes. Jefferies and Evercore ISI are acting as placement agents.