Adverum Biotechnologies Inc., of Redwood City, Calif., said it priced an underwritten public offering of 9.5 million common shares at $13.75 apiece for expected gross proceeds of approximately $130.6 million, up from a proposed $100 million. The company, which granted underwriters a 30-day option to purchase up to approximately 1.4 million additional shares, did not disclose specific use of proceeds. Goldman Sachs & Co. LLC, Cowen and Co. LLC and SVB Leerink LLC are joint book-running managers, with Lifesci Capital LLC as lead manager for the offering, expected to close by Feb. 14. Adverum’s shares (NASDAQ:ADVM) gained 70 cents on Feb. 12 to close at $15.05.

Fortress Biotech Inc., of New York, said it priced an underwritten public offering of 625,000 shares of 9.375% series A cumulative redeemable perpetual preferred stock at $20 apiece for expected gross proceeds of $12.5 million, and granted underwriters a 45-day option to purchase up to 93,750 additional shares. Specific use of proceeds was not disclosed. The Benchmark Co. LLC and Thinkequity, a division of Fordham Financial Management Inc., are joint bookrunners for the offering, expected to close by Feb. 14. On Feb. 12, Fortress shares (NASDAQ:FBIO) gained 2 cents to close at $2.68.

Moderna Inc., of Cambridge, Mass., said it priced an underwritten public offering of approximately 26.3 million common shares at $19 apiece for expected gross proceeds of about $500 million and granted underwriters a 30-day option to purchase up to approximately 3.9 million additional shares. Specific use of proceeds was not disclosed, but a day earlier the company reported that it enrolled the first participant in a phase I study of its MUT gene stimulator, mRNA-3704, in methylmalonic acidemia and that its phase III trial of the dual human cytomegalovirus glycoprotein B/H modulator, mRNA-1647, was enrolling ahead of schedule. Moderna also disclosed three additional development candidates: mRNA-1189, a vaccine against Epstein-Barr virus; mRNA-1345, a vaccine against respiratory syncytial virus in young children encoding for a prefusion F glycoprotein; and mRNA-1273, a vaccine against the novel coronavirus encoding for the viral Spike protein, selected in collaboration with the NIH. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are joint book-running managers for the offering, expected to close by Feb. 14. Piper Sandler & Co. and Barclays Capital Inc. are book-running managers and Needham & Co., Oddo BHF SCA, Oppenheimer & Co. Inc., Chardan and Roth Capital Partners are co-managers. Moderna’s shares (NASDAQ:MRNA) closed Feb. 12 at $19.01, a loss of $2.34.

PDS Biotechnology Corp., of Princeton, N.J., said it priced an underwritten public offering of about 9.2 million common shares at $1.30 apiece, expecting to gross $12 million primarily to advance its Versamune-based immunotherapy platform. A.G.P./Alliance Global Partners is sole bookrunner for the offering, expected to close Feb. 14. On Feb. 12, the company’s shares (NASDAQ:PDSB) fell 46 cents to close at $1.32.

Regenerative medicine firm Polarityte Inc., of Salt Lake City, said it priced an underwritten public offering of approximately 10.6 million common shares and warrants to purchase up to about 10.6 million additional shares for a combined price of $2.35 per unit, expecting to gross $25 million. Each seven-year warrant will have an exercise price of $2.80 and may be exercised immediately. Net proceeds will be used to commercialize the autologous product Skinte and to advance other R&D and commercialization efforts. In October 2019, the company reported positive results from a pilot study of Skinte in the closure of venous stasis leg ulcers after standard treatments failed. Cantor Fitzgerald & Co. is sole book-running manager for the offering, expected to close by Feb. 14, with Oppenheimer & Co. Inc. as lead manager. On Feb. 12, Polarityte’s shares (NASDAQ:PTE) slid $1.50 to close at $1.68.

Revance Therapeutics Inc., of Newark, Calif., said it priced $250 million of 1.75% convertible senior notes due 2027 in a private placement to qualified institutional buyers, upsized from a proposed offering of $200 million, for expected net proceeds of $242 million. The company granted initial buyers a 13-day option to purchase up to $37.5 million of additional notes, potentially adding $36.4 million in net proceeds to the placement, expected to close Feb. 14. Each $1,000 in notes initially will convert into 30.8804 of the company’s common shares (NASDAQ:RVNC), equivalent to an initial conversion price of approximately $32.38 per share, or a premium of approximately 32.5% over the Feb. 11 closing price of $24.44. Net proceeds primarily will fund commercial launch of the in-licensed portfolio of Resilient Hyaluronic Acid dermal fillers, pre-commercialization and commercialization activities for the injectable formulation of daxibotulinumtoxin A (DAXI) to treat glabellar lines and continued development of its DAXI pipeline. On Feb. 12, Revance shares (NASDAQ:RVNC ) closed at $24.20, a loss of 24 cents.

Revive Therapeutics Ltd., of Toronto, said it engaged Hampton Securities Ltd. as sole lead agent in connection with a private placement, on a commercially reasonable efforts basis, of up to 40 million units consisting of one common share and one three-year warrant to purchase an additional common share, priced at 5 cents per unit, for gross proceeds of up to $2 million. Proceeds from the offering, expected to close by Feb. 28, will be used to repay debt and for general corporate purposes. Revive, which trades on the OTC Pink as RVVTF, closed Feb. 12 at 5 cents.

Salarius Pharmaceuticals Inc., of Houston, said it closed an underwritten public offering of approximately 7.1 million class A units priced at $1.15 apiece and approximately 1.2 million class B units priced at $1.15 apiece. Each class A unit consisted of one common share and a five-year warrant to purchase one additional share at an exercise price of $1.15 per share and each class B unit consisted of one series A convertible preferred share and a five-year warrant to purchase one common share, also with an exercise price of $1.15 per share. Gross proceeds were approximately $11 million, with some 8.4 million common shares, 1.2 million series A convertible preferred shares and warrants to purchase up to 9.6 million common shares issued in the offering, including full exercise of the underwriter’s overallotment option. The company did not disclose specific use of proceeds. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., acted as sole bookrunner. In July 2019, Salarius merged with Flex Pharma Inc., of Boston. On Feb. 12, Salarius shares (NASDAQ:SLRX) closed even at 84 cents.

Theravance Biopharma Inc., of Dublin, said it priced an underwritten public offering of 5.5 million ordinary shares at $27 apiece for expected gross proceeds of approximately $148.5 million and granted underwriters a 30-day option to purchase up to 825,000 additional ordinary shares. Specific use of proceeds was not disclosed for the offering, expected to close Feb. 14. Morgan Stanley and Co. LLC, J.P. Morgan Securities LLC and Cowen and Co. LLC are joint book-running managers, with Credit Suisse, Cantor Fitzgerald LP and Needham & Co. as co-managers. Theravance shares (NASDAQ:TBPH) closed Feb. 12 at $24.67, a loss of $3.22.

Tonix Pharmaceuticals Holding Corp., of New York, said it closed an underwritten public offering that raised gross proceeds of approximately $7.5 million. The offering consisted of about 3.8 million class A units, each consisting of one common share and one warrant to purchase one common share at a price of 57 cents per unit, and 5,313 class B units, each consisting of one series B preferred share with a stated value of $1,000 per share and about 1.8 million common shares at a combined price of $1,000 per unit. A.G.P./Alliance Global Partners acted as sole bookrunner. The company’s shares (NASDAQ:TNXP), which swooned following its Feb. 6 report that the phase III Recovery study of TNX-102 SL (cyclobenzaprine HCl sublingual tablets) to treat post-traumatic stress disorder was halted for futility, closed Feb. 12 at 47 cents.

Xeris Pharmaceuticals Inc., of Chicago, priced its public offering of 9 million shares at $4.15 per share, grossing the company $37.4 million. The underwriters have a 30-day option to purchase up to an additional 1.34 million shares. Jefferies, Piper Sandler, RBC Capital Markets and Mizuho Securities are acting as joint book-running managers for the offering. The deal is expected to close on Feb. 14. Shares of Xeris (NASDAQ:XERS) closed down 30 cents, or 6.9%, to $4.03 on Feb. 12.

Zosano Pharma Corp., of Fremont, Calif., priced its public offering of about 10.1 million class A units, consisting of a share and a warrant to purchase an additional share, and 2.2 million class B units, consisting of a prefunded warrant to purchase a share and a warrant to purchase an additional share. The class A units will be sold at 65 cents per unit, while the class B units will go for 64.99 cents per unit. Zosano expects to gross approximately $8 million from the offering that's expected to close on or about Feb. 14. H.C. Wainwright & Co. is acting as the sole book-running manager for the offering. Shares of Zosano (NASDAQ:ZSAN) closed down 50 cents, or 48%, to 53 cents on Feb. 12.

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