Akers Biosciences Inc., of Thorofare, N.J., closed its registered direct offering of 1.4 million shares at $3.53 per share, grossing the company $4.8 million, which it plans to use for general working capital, including the development of its vaccine business and possibly to further strategic alternatives that are currently being evaluated. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
Amplyx Pharmaceuticals Inc., of San Diego, closed a $53 million series C extension, bringing the total for the series C round to more than $90 million. The extension was led by Sofinnova Investments with participation from existing investors, including New Enterprise Associates, Lundbeckfonden Ventures, Arix Bioscience, Pappas Capital, Rivervest Venture Partners, 3×5 Partners and Biomed Ventures. New investors, Pfizer Inc. and Adage Capital Management, also invested in the financing round. Amplyx plans to use capital for clinical development of the company's product candidates, broad-spectrum antifungal fosmanogepix and MAU-868, a monoclonal antibody against the BK virus.
Applied Molecular Transport Inc., of South San Francisco, filed to raise $100 million in an IPO. The company plans to use the proceeds to fund phase II trials for AMT-101, its gastrointestinal (GI)-selective interleukin 10, development of AMT-126, a GI-selective oral fusion of rhIL-22 and a carrier molecule, and for research programs, working capital and other general corporate purposes. BofA Securities, Jefferies and SVB Leerink are the joint bookrunners on the offering, for which a pricing range hasn't been established yet. The company plans to list on Nasdaq under the symbol AMTI.
Axcella Health Inc., of Cambridge, Mass., closed its public offering of 12.65 million shares at $4.75 per share, grossing the company $60.1 million. The company plans to use the proceeds for IND filings and clinical development of AXA-1665 and AXA-1125, advancing AXA-4010, including the conclusion of the ongoing clinical study, advancing development of its platform and discovery efforts, support of organizational growth and for working capital and other general corporate purposes. J.P. Morgan and SVB Leerink acted as joint book-running managers for the offering. Wedbush Pacgrow acted as lead manager and Roth Capital Partners acted as co-manager for the offering.
Bellerophon Therapeutics Inc., of Warren, N.J., priced its offering of about 3.1 million shares at $13 per share. The offering included a public offering of about 1.9 million shares and a registered direct offering of 1.1 million shares to an institutional investor affiliated with a member of the company’s board. The underwriters have a 30-day option to purchase an additional 288,461 shares. Bellerophon expects to gross approximately $40 million from the offerings, which it will use for funding ongoing clinical trials, working capital needs and other general corporate purposes. Jefferies LLC is acting as sole book-running manager for the public offering. H.C. Wainwright & Co. LLC is acting as the lead manager for the public offering. Shares of Bellerophon (NASDAQ:BLPH) closed down $3.16, or 19.6%, to $13 on May 19.
Bluebird Bio Inc., of Cambridge, Mass., priced its public offering of about 9.1 million shares at $55 per share, grossing the company approximately $500 million, which it plans to use for the development, commercialization and manufacturing of ide-cel (bb-2121); development of its sickle cell program, including the HGB-206 and HGB-210 clinical trials; to fund HGB-212 in patients with b0/b0 genotype transfusion-dependent beta-thalassemia; for its commercial infrastructure for Zynteglo in Europe and the U.S.; to expand its manufacturing platform and capabilities for future products; for general and administrative expenses, potential future development programs; and for early stage research and development, capital expenditures and working capital and other general corporate purposes. Goldman Sachs & Co. LLC, BofA Securities and Cowen are acting as joint book-running managers for the offering, which is expected to close on or about May 21. Shares of Bluebird (NASDAQ:BLUE) closed up 76 cents, or $1.3% to $57.90 on May 19.
Cardiff Oncology Inc., of San Diego, sold 594,615 shares in a private placement with its board and CEO, grossing the company $810,000 that the company plans to use for its programs in KRAS-mutated metastatic colorectal cancer, Zytiga-resistant metastatic castration-resistant prostate cancer and relapsed or refractory acute myeloid leukemia. Shares of Cardiff (NASDAQ:CRDF) closed up 19 cents, or 10.4%, to $2.02 on May 19.
Clovis Oncology Inc., of Boulder, Colo., priced its public offering of 11.09 million shares at $8.05 per share. The underwriters have a 30-day option to purchase an additional 1.6 million shares. Clovis plans to use the proceeds for general corporate purposes, including repayment, repurchase or refinance of its debt obligations, sales and marketing expenses associated with Rubraca (rucaparib), funding of its development programs, payment of milestones pursuant to its license agreements, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital. J. P. Morgan Securities LLC and BofA Securities are acting as joint book-running managers for the offering, which is expected to close on May 21.
Cowen Healthcare Investments, of New York, completed fundraising for Cowen Healthcare Investments III LP with $493 million of committed investments. The fund expects to make investments in biopharma, diagnostics and digital health
Gamida Cell Ltd., of Boston, priced its public offering of about 13.3 million shares at $4.50 per share, grossing the company approximately $60 million. The underwriters have a 30-day option to purchase an additional 2 million shares. The company plans to use the proceeds to fund the preparation of a BLA for omidubicel in high-risk hematologic malignancies, the clinical development of its product candidates, the expansion of its commercial manufacturing capabilities and for general corporate purposes, including general and administrative expenses and working capital. Piper Sandler & Co. and Evercore Group LLC are acting as joint book-running managers for the offering. JMP Securities LLC is acting as lead manager for the offering, which is scheduled to close on or about May 21. Shares of Gamida (NASDAQ:GMDA) closed down $1.55, or 26.3%, to $4.35 on May 19.
Gossamer Bio Inc., of San Diego, priced its public offering of about 9.4 million shares at $13.25 per share, and priced $200 million of convertible senior notes due in 2027 at 5%, grossing the company $325 million. The underwriters have a 30-day option to purchase an additional 1.4 million shares and a 13-day option to purchase an additional $30 million of the notes. Gossamer plans to use the proceeds to fund research and development of its product candidates and development programs and for working capital and general corporate purposes. BofA Securities and SVB Leerink are acting as joint book-running managers for the stock offering. Evercore ISI, Barclays and Cantor are also acting as book-running managers for the stock offering. BofA Securities, SVB Leerink and Piper Sandler are acting as joint book-running managers for the notes offering. SMBC is acting as co-manager for the notes offering. Both offerings are expected to close on May 21. Share of Gossamer (NASDAQ:GOSS) closed down $2.38, or 15.9%, to $12.64 on May 19.
Inventiva SA, of Daix, France, said it entered a €10 million (US$10.9 million) credit agreement, guaranteed by the French State, with a syndicate of French banks. Implemented as part of a loan facility guaranteed by the French State in the context of the COVID-19 pandemic, the company said the financing will contribute to strengthening its cash position. It enables Inventiva to extend its anticipated cash runway from the end of the second quarter 2021 to the end of the third quarter 2021.
Kiniksa Pharmaceuticals Ltd., of Hamilton, Bermuda, closed its public offering of 2.76 million shares at $18.25 per share, grossing the company $80 million including a concurrent private placement. Kiniksa plans to use the proceeds to advance the clinical development of rilonacept, mavrilimumab, vixarelimab and KPL-404, to fund other research and development activities and for working capital and general corporate purposes. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and BofA Securities acted as joint book-running managers for the public offering. Wedbush Securities Inc. and JMP Securities LLC acted as co-managers.
Krystal Biotech Inc., of Pittsburgh, priced an underwritten public offering of about 2.2 million shares of common stock at $55 each. The company granted the underwriters a 30-day option to purchase up to an additional 341,250 shares. The gross proceeds are expected to be about $125.1 million, and the deal is expected to close on or about May 21. Cowen, Evercore ISI, Guggenheim Securities and William Blair are acting as joint book-running managers for the offering. Chardan is serving as lead manager with H.C. Wainwright & Co. acting as co-manager. The company intends to use the net proceeds to advance B-VEC into and through a phase III trial and other clinical projects. Shares of Krystal (NASDAQ:KRYS) closed May 19 at $53.19, down $3.36.
Nivagen Pharmaceuticals Inc., of Sacramento, Calif., closed a $16 million equity financing round led by Telegraph Hill Partners, with participation from existing investors. Nivagen intends to use the proceeds for internal development and acquisition of additional generic and branded drugs to broaden its product portfolio. The company is also exploring strategies to develop or acquire manufacturing facilities in the U.S. to help alleviate supply disruptions and accelerate time to market for its pipeline products.
Plx Pharma Inc., of Sparta, N.J., said stockholders approved the issuance of more than 20% of the company’s common stock pursuant to a private placement transaction with certain accredited investors and a change of control for purposes of the Nasdaq Listing Rule 5635. Upon stockholder approval, on May 15, the company completed the $8 million convertible preferred stock financing by investment funds affiliated with Park West Asset Management LLC and MSD Partners LP. The financing will fund Vazalore through the final steps of the regulatory process. Vazalore is an aspirin product being developed to provide patients with vascular disease and diabetic patients who are candidates for aspirin therapy with more reliable and predictable antiplatelet efficacy as compared to enteric-coated aspirin, while also reducing the adverse gastric events common in an acute setting.
Tricida Inc., of South San Francisco, said it intends to offer $175 million aggregate principal amount of its convertible senior notes due 2027 in a private offering to qualified institutional buyers. The company expects to grant the initial purchasers a 13-day option to purchase up to an additional $25 million in notes. The notes will be convertible into cash, shares of Tricida’s common stock, par value $0.001 per share or a combination of cash and shares of common stock at Tricida’s election. Proceeds will be used for working capital and general corporate purposes, the company said.
Xbrane Biopharma AB, of Solna, Sweden, said it intends to carry out a directed share issue of up to 3.85 million shares through an accelerated book-building procedure, the proceeds of which will be used to fund a marketing authorization application for Xlucane, a Lucentis (ranibizumab, Roche Holding AG) biosimilar candidate, and accelerate the development of the company´s biosimilar candidates on Cimzia (Xcimzane) and Opdivo (Xdivane). Xbrane has engaged Vator Securities AB to explore the possibilities to conduct the directed share issue.