Akari Therapeutics plc, of London, said it closed its private placement, issuing 5.62 million American depositary shares (ADSs) at $1.70 each for gross proceeds of approximately $9.5 million. For each ADS purchased, the investors received an unregistered warrant to purchase one-half of an ADS. The warrants are immediately exercisable and will expire in five years and have an exercise price of $2.20 per ADS.

Amunix Pharmaceuticals Inc., of Mountain View, Calif., said it completed an oversubscribed $73 million series A financing led by Omega Funds with participation from existing investor Frazier Healthcare Partners and new investors Longitude Capital, Redmile Group, Polaris Partners, Casdin Capital, Two River, Venrock and Delian Capital. The company plans to utilize the proceeds, along with a $40 million up-front payment from a licensing agreement with Basel, Switzerland-based Roche Holding AG announced in January, to advance its lead development candidate, AMX-818, an XPAT T-cell engager targeting HER2-positive solid tumors into the clinic, to progress earlier discovery-stage XPAT programs and to initiate XPAC discovery work.

Bridgebio Pharma Inc., of Palo Alto, Calif., said it intends to offer, subject to market conditions and other factors, $350 million aggregate principal amount of convertible senior notes due 2027 in a private offering to qualified institutional buyers. It also expects to grant the initial purchasers an option to purchase up to an additional $52.5 million of notes.

Cinclus Pharma Holding AB, of Stockholm, said it completed a financing round of SEK250 million (US$26.3 million) to fund further clinical development of X-842, a clinical-stage drug candidate for the treatment of gastroesophageal reflux disease. The proceeds will be used to conduct a phase II trial, which is expected to start in the second half of this year, as well as operating costs and other key activities necessary to make the project ready for a pivotal phase III program.

Imara Inc., of Boston, has set terms for its IPO and plans to raise up to $76 million by offering 4.5 million shares at a price range of $16 to $18. The company is developing and commercializing therapeutics to treat hemoglobinopathies. Its product candidate, IMR-687, an oral, once-a-day, small-molecule inhibitor of PDE9, is in phase II development for sickle cell disease and beta-thalassemia. It has applied to list its shares on Nasdaq under the symbol IMRA.

Novan Inc., of Morrisville, N.C., said it closed its underwritten public offering of 18.33 million shares and warrants to purchase an aggregate of up to 18.33 million shares at a combined price of 30 cents per share and accompanying common warrant. The warrants have an exercise price of 30 cents per share, are exercisable immediately and expire in five years. The underwriter was granted a 30-day option to purchase up to an additional 2.75 million shares and/or warrants to purchase 2.75 million shares that was partially exercised, with the purchase 1.49 million shares and common warrants to purchase up to 2.75 million shares. The gross proceeds are approximately $5.95 million, and Novan intends to use the net proceeds to fund its research and development programs and for general working capital purposes and other operating expenses.

Pacylex Pharmaceuticals Inc., of Edmonton, Alberta, said it raised more than $3.9 million in a 2020 convertible note financing led by Canadian angel investors from Edmonton. The funds will help to advance the company’s first candidate, PCLX-001, through phase I trials, expected to begin by year-end 2020. Pacylex also executed a partnership with Davospharma, of Upper Saddle River, N.J., to oversee preparation of clinical supplies and steps for filing for regulatory authorization and to begin dosing in humans. A peptide N-myristoyltransferase inhibitor, PCLX-001 targets hematologic cancers.

Tonix Pharmaceuticals Holding Corp., of New York, said it closed a registered direct offering for gross proceeds of $16 million through the sale of 14.55 million common shares at $1.10 apiece. The company did not disclose specific use of proceeds, but in February Tonix halted enrollment in the phase III trial of TNX-102 SL (cyclobenzaprine HCl sublingual tablets) to treat post-traumatic stress disorder after the independent data monitoring committee recommended stopping the trial for futility. Following the offering, Tonix reported approximately 49.2 million common shares outstanding. A.G.P./Alliance Global Partners acted as sole placement agent. On March 4, Tonix shares (NASDAQ:TNXP) lost 11 cents, closing at $1.06.

Vaxil Bio Ltd., of Ness Ziona, Israel, said it closed on $36,000 of convertible debentures from third parties and $95,000 of nonconvertible debentures to insiders, subject to receipt of final TSX Venture Exchange approval. The debentures formed part of a larger offering for maximum proceeds of $164,000. Vaxil said another $69,000 of debentures remain to be placed. The company also disclosed that $352,000 in proceeds were received from the exercise of 3.52 million warrants priced at 10 cents apiece and issued in January 2018. Upon exercise of the warrants, the company issued 3.52 million common shares. Proceeds from the debentures, convertible debentures and warrants will be used as a bridge financing to fund Vaxil’s coronavirus (COVID-19) vaccine, including product manufacturing for clinical trials, while the company explores financing options to advance its research programs.

Zogenix Inc., of Emeryville, Calif., said it priced an underwritten public offering of 8.52 million common shares at $23.50 apiece, or a discount of about 5.7% from the stock’s (NASDAQ:ZGNX) March 3 closing price of $24.92, for expected gross proceeds of approximately $200.2 million. The company granted underwriters a 30-day option to purchase up to approximately 1.3 million additional shares. Net proceeds primarily will support activities related to potential commercialization of lead candidate Fintepla (fenfluramine oral solution) to treat Dravet syndrome, under review by the FDA with a PDUFA date of June 25, 2020; submission of regulatory applications in the U.S. and EU for Fintepla to treat Lennox-Gastaut syndrome (LGS); funding of future trials of Fintepla in other indications; and continuing development and activities related for MT-1621 to treat thymidine kinase 2 deficiency. In February 2020, Zogenix reported phase III data that showed the 5-HT 1d/2a/2c receptor modulator, which targets the sigma-1 receptor, was superior to placebo in reducing the frequency of serious seizures in LGS, a severe form of epilepsy. SVB Leerink and Stifel are joint bookrunners for the offering, expected to close by March 6. ZGNX shares gained $2.44 on March 4 to close at $27.36.