Albireo Pharma Inc., of Boston, said it priced an underwritten public offering of approximately 1.9 million common shares at $21 apiece for expected gross proceeds of approximately $40 million. The company granted underwriters a 30-day option to purchase up to 285,750 additional common shares. Jefferies LLC is sole book-running manager and underwriters’ representative for the offering, expected to close by Feb. 3. On Jan. 30, Albireo’s shares (NASDAQ:ALBO) lost $2.02 to close at $21.81.
Alector Inc., of South San Francisco, updated its prospectus in a Jan. 30 SEC filing for a public offering, planning to offer about 8.35 million shares and granting underwriters an option to purchase up to 1.25 million in additional shares. The company estimates the net proceeds will be about $160.8 million, or about $185.1 million if the underwriters exercise their option to purchase additional shares in full, based on the Jan. 28 closing stock price. Shares of Alector (NASDAQ:ALEC) closed Jan. 30 at $28.17, up $2.23.
Applied Genetic Technologies Corp., of Alachua, Fla., aims to raise about $35 million in a common stock offering, according to a prospectus filed with the SEC Jan. 29. The number of shares and share price have not yet been disclosed. Shares of AGTC (NASDAQ:AGTC) closed Jan. 30 at $6.43, down 93 cents.
Catabasis Pharmaceuticals Inc., of Boston, said it priced an underwritten public offering of 4.6 million common shares at $5 apiece for expected gross proceeds of approximately $23 million and granted underwriters a 30-day option to purchase up to 690,000 additional shares to cover overallotments. Net proceeds will be used for clinical trial and other R&D activities; initial commercialization preparations for the phase III nuclear factor kappa B inhibitor edasalonexent (formerly CAT-1004) in Duchenne muscular dystrophy; and for other corporate purposes. Oppenheimer & Co. Inc. is sole underwriter for the offering, expected to close by Feb. 3. On Jan. 30, the company’s shares (NASDAQ:CATB) lost 14 cents, closing at $5.53.
DBV Technologies SA, of Montrouge, France, said it priced a global offering of 7.5 million ordinary shares through a public offering of approximately 4.5 million ordinary shares in the form of 9 million American depositary shares (ADSs) in the U.S., Canada and certain countries outside Europe at $10.25 per ADS and an offering to qualified investors in Europe of approximately 3 million ordinary shares at €18.63 (US$20.55) apiece, for expected gross proceeds of approximately $153.7 million. DBV said the offering price for the ordinary shares, including in the form of ADSs, represented a 7.8% discount to the weighted average of the company’s share prices on the Euronext Paris over the three trading days prior to the offering’s launch. The company granted underwriters a 30-day overallotment option to purchase up to approximately 1.1 million additional ordinary shares in the form of 2.25 million ADSs. Net proceeds, together with cash and equivalents of $193.1 million as of Dec. 31, will be used primarily to prepare for potential launch of Viaskin Peanut in the second half of 2020, to advance the discovery and development of candidates using the company’s Viaskin platform and to extend the company’s operating runway into the first quarter of 2021. Goldman Sachs International and Citigroup Global Markets are joint lead bookrunners, with JMP Securities as lead manager and H.C. Wainwright & Co. and Kempen & Co. as co-managers for the global offering, expected to close Feb. 4. On Jan. 30, the company’s ordinary shares (PARIS:DBV) closed at €18.08 for a loss of €2.64 while the ADSs (NASDAQ:DBVT) fell $1.49 to close at $9.84.
Hemogenyx Pharmaceuticals plc, of London, said it raised £648,200 (US$848,124) through a placing and subscription of 36 million ordinary shares priced at 1.8 pence apiece. The company, which completed a reverse takeover and listing in October 2017, said it had raised the maximum amount allowed under its existing authority to issue shares for cash. Funds will be used to continue development and in vivo testing of the company's chimeric antigen receptor programmed T cells, or HEMO-CAR Ts, against acute myeloid leukemia; to commercialize its advanced humanized mouse model; to develop protocols and treatments derived from its humanized mice, including work on autoimmune diseases such as lupus; and to advance its core CDX antibody collaboration and support partnerships with pharmaceutical companies.
Lyra Therapeutics Inc., of Watertown, Mass., said it completed a $30 million series C financing led by Perceptive Advisors with participation from new investors that included Clifton Capital and existing investors RA Capital Management, Soleus Capital, Arrowmark Partners, Polaris Venture Partners, North Bridge Venture Partners and Intersouth Partners. Proceeds will be used primarily to advance lead candidates LYR-210, a sustained-release version of mometasone furoate targeting chronic sinusitis in surgically naïve patients, and LYR‑220, a long-acting formulation of mometasone furoate targeting operated patients. In conjunction with the financing, Konstantin Poukalov, managing director of Perceptive Advisors, joined Lyra’s board.
Portage Biotech Inc., of Toronto, said it increased its investment in Iox Therapeutics Ltd., of Berkshire, U.K., to $2.9 million from $1.9 million on Dec. 8, 2018, through a $950,000 subscription to an unsecured convertible loan instrument. Iox plans to use the proceeds to start human studies this year on its immuno-oncology candidates, including the cancer testis antigen NY-ESO-1 modulator IMM-65. The notes carry a 7% interest rate and will price at a discount to the next round of financing into Iox.
Seelos Therapeutics Inc., of New York, disclosed in an Jan. 29 SEC filing plans to offer about 10.1 million shares of common stock in a public offering. Shares have not yet been priced. The company plans to offer underwriters an option to purchase up to an additional 1.5 million shares. Net proceeds are estimated to be about $10.8 million, or about $12.5 million upon underwriters exercising the full option, based on the closing share price Jan. 28. Shares of Seelos (NASDAQ:SEEL) closed Jan. 30 at $1.07, down 10 cents.
Spero Therapeutics Inc., of Cambridge, Mass., said it plans to raise $30 million through a backstopped rights offering of the company’s common series A convertible preferred and series B convertible preferred stock. Holders of record at close of business on Feb. 10 will receive a nontransferable subscription right to purchase common shares at $9 apiece in proportion to their pro rata ownership of outstanding common shares. The offering will be fully backstopped by affiliates of BVF Partners LP, which currently owns approximately 5% of Spero’s outstanding common shares and agreed to purchase, at a minimum, their respective pro rata share of the offering amount plus securities that remain unsubscribed, up to $30 million. The subscription rights may be exercised for up to 3.3 million common shares, allocated among the holders on a pro rata basis, during an expected subscription period of Feb. 10 to March 2, 2020. On Jan. 30, Spero’s shares (NASDAQ:SPRO) closed at $9.68 for a loss of 21 cents.
Vizgen Inc., of Cambridge, Mass., said it closed a $14 million series A financing led by Arch Venture Partners and Northpond Ventures. The funds will be used to advance Vizgen's multiplexed error-robust fluorescence in situ hybridization, or MERFISH, platform. The quantitative and genome-scale multiplexed imaging technology is designed to identify nucleic acids in their native cellular and tissue environment to enable spatially resolved, single-cell transcriptomics.