Alkido Pharma Inc., of New York, said it closed its registered direct offering with several institutional and accredited investors of 14 million shares of its common stock at a purchase price of $1 per share, priced at-the-market under Nasdaq rules. The gross proceeds totaled $14 million, and net proceeds will be used for working capital and general corporate purposes. H.C. Wainwright & Co. LLC acted as the exclusive placement agent.

Coherus Biosciences Inc., of Redwood City, Calif., said it priced an offering of $200 million aggregate principal amount of 1.5% convertible senior subordinated notes due 2026 in a private offering to qualified institutional buyers. The initial purchasers of the notes have been granted an option to purchase notes up to an additional $30 million. Coherus estimates that the net proceeds from the offering will be approximately $193.3 million (or approximately $222.4 million if the initial purchasers fully exercise their option to purchase additional notes). Coherus intends to use the net proceeds from the offering for pipeline acquisitions or licenses, working capital and other general corporate purposes.

Crinetics Pharmaceuticals Inc., of San Diego, said it priced an underwritten public offering of 7.15 million shares at $14 each. The underwriters have been granted a 30-day option to purchase up to an additional 1.07 million shares. The gross proceeds are expected to be $100.1 million, and the company intends to use the net proceeds to fund the development of paltusotine, an orally available nonpeptide biased agonist that is designed to be highly selective for the somatostatin sst2 receptor, and its other research and development programs, and for working capital and general corporate purposes. Shares of Crinetics (NASDAQ:CRNX) closed April 15 at $15.48, up 66 cents.

Newron Pharmaceuticals SpA, of Milan, Italy, said it received the third tranche under its financing agreement with the European Investment Bank, signed in October 2018 and comprising up to €40 million (US$43.7 million), subject to achieving a set of agreed performance criteria. The third tranche consists of €7.5 million and will be used primarily to support development programs in CNS diseases. The first two tranches of the loan, totaling €17.5 million, were received by Newron in 2019.

Pic Therapeutics Inc., of Boston, said it closed an oversubscribed $5 million seed round of preferred equity funding led by Advent Life Sciences, and included participation by Belinda Termeer as well as several biopharmaceutical industry executives and other individual investors. The company targets the “master switch” of cancer signaling pathways, blocking oncogene protein production by selectively modulating the pre-initiation complex, specifically eIF4E, a convergence point driving oncogene RNA translation.

Revive Therapeutics Ltd., of Toronto, said it issued an additional 16.4 million units at a price of 5 cents each for gross proceeds of $820,000 in connection with the closing of a second tranche of its brokered private placement financing. Each unit consists of one common share and one common share purchase warrant entitling the holder to acquire one common share at 7 cents. The company intends to use the net proceeds for general corporate purposes.

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