Adaptimmune Therapeutics plc, of Philadelphia and Oxfordshire, U.K., priced its public offering of 20.5 million American depositary shares (ADS) at $11 per ADS for gross proceeds of $225.5 million. The company also granted underwriters a 30-day option to purchase an additional 3.075 million shares, which could add $33.8 million. Net proceeds will be used to advance the development of the company’s immunotherapies into and through clinical trials as well as for other general corporate purposes. Cowen and SVB Leerink are acting as joint book-running managers, and Roth Capital Partners is acting as lead manager for the offering, expected to close on or about June 4. Shares of Adaptimmune (NASDAQ:ADAP) closed June 2 at $12.10, up 46 cents.
Allogene Therapeutics Inc., of South San Francisco, which develops allogeneic chimeric antigen receptor T-cell (AlloCAR T) therapies for cancer, priced its public offering of about 11.7 million shares at $47 apiece for gross proceeds of about $550 million. Allogene granted underwriters a 30-day option to purchase up to about 1.76 million additional shares, which could add $82.5 million. Goldman Sachs & Co. LLC, Jefferies LLC and Cowen and Co. LLC are acting as joint lead book-running managers, while Piper Sandler & Co. is also acting as book-running manager and Canaccord Genuity LLC, William Blair & Co. LLC and Oppenheimer & Co. Inc. are acting as co-lead managers for the offering, set to close on or about June 4. Shares of Allogene (NASDAQ:ALLO) closed June 2 at $47.46, down $1.48.
Applied Molecular Transport Inc., of South San Francisco, which develops oral therapies for inflammatory diseases, set terms for its proposed IPO, planning to raise $130 million by offering 10 million shares priced at a range of $12 to $14. BofA Securities, Jefferies and SVB Leerink are acting as joint bookrunners. The company is seeking a listing on Nasdaq under the ticker AMTI.
Argenx NV, of Breda, the Netherlands, closed its global offering of an aggregate of about 4.2 million ordinary shares, including ordinary shares represented by American depositary shares (ADS), which includes full exercise of the underwriters’ option to purchase 548,777 additional ADSs. Gross proceeds were about $862.5 million. J.P. Morgan, Cowen and BofA Securities acted as joint book-running managers, while Stifel, JMP Securities, Wedbush Pacgrow, Nomura and Kempen & Co acted as co-managers for the offering.
Biocryst Pharmaceuticals Inc., of Research Triangle Park, N.C., said it completed a public offering of about 22 million shares, including about 3.3 million shares in the underwriters’ overallotment option, and of prefunded warrants to purchase up to an aggregate of about 3.5 million shares. Gross proceeds were about $115 million. Biocryst expects to use the net proceeds for general corporate purposes, which may include worldwide development, manufacturing, regulatory, prelaunch and commercial activities for the prophylactic berotralstat (BCX-7353) program in the U.S. and European Union; advancement of the worldwide development, manufacturing, regulatory and clinical activities for BCX-9930 for complement-mediated diseases; post-approval commitments for Rapivab/Alpivab; and capital expenditures and other general working capital needs. J.P. Morgan and Piper Sandler acted as joint book-running managers, while H.C. Wainwright & Co. and JMP Securities acted as lead managers.
Bionomics Ltd., of Adelaide, Australia, said it entered a subscription agreement with Apeiron Investment Group Ltd. to recapitalize the company and assist in securing further equity capital. Under the subscription agreement, Apeiron agrees to subscribe or procure subscriptions of about 135.8 million shares at an issue price of AU4 cents (US2.7 cents) per share to raise AU$5.4 million (to proceed in two tranches of 81.5 million shares and 54.3 million shares, the second being subject to shareholder approval). Apeiron also agrees to underwrite further capital raisings by Bionomics within a 15-month-period from the extraordinary general meeting of shareholders to be convened, with the effect that Bionomics will raise up to AU$15 million at a minimum issue price of AU6 cents per share subject to approvals.
Calliditas Therapeutics AB, of Stockholm, set terms for its proposed IPO, planning to raise $75 million by offering 3.8 million American depositary shares at $19.77, the as-converted last close of its shares on Nasdaq Stockholm. The deal is expected to price this week. Calliditas, which is developing therapies for inflammatory kidney disease, seeks a listing on Nasdaq under the ticker CALT.
Circassia Group plc, of Oxford, U.K., said it entered an equity financing facility with two of its major institutional shareholders, North Atlanta Small Cos. Investment Trust plc and Richard Griffiths, to provide the company with access to additional liquidity should it be required in the coming months. Under the terms, the two shareholders have committed to subscribe for up to a total of £5 million (US$6.3 million) of new ordinary shares in Circassia if a request is made by Circassia up until Nov. 30, 2020, at which time the facility will terminate unless the parties agree to extend it further. The price at which new ordinary shares may be subscribed is the lower of 24.6 pence and the price at which Circassia may issue any other new ordinary shares for cash during the period to Nov. 30, 2020.
G1 Therapeutics Inc., of Research Triangle Park, N.C., said it entered a debt financing agreement with Hercules Capital Inc. for up to $100 million. G1 plans to use the proceeds to fund commercialization and further development of trilaciclib, designed to improve outcomes for people with cancer treated with chemotherapy. An NDA for trilaciclib, seeking approval for myelopreservation in small-cell lung cancer (SCLC), is expected to be filed later this month. The facility will be available in four tranches: the first tranche of $30 million is available at loan closing, of which the company plans to utilize $20 million immediately, with the remaining $10 million available through March 31, 2021; the second tranche of $20 million will be available upon achievement of FDA approval of trilaciclib in SCLC and initiation of a registrational trial in metastatic colorectal cancer, to be available from Jan. 1, 2021, through Dec. 15, 2021; an additional tranche of $30 million will be available from April 1, 2021, through Dec. 31, 2022, subject to certain terms and conditions, including in connection with net product revenues for trilaciclib; and a final tranche of $20 million will be available prior to Dec. 31, 2022, to support strategic initiatives, subject to future approvals by Hercules.
Greenwich Lifesciences Inc., of Stafford, Texas, has filed with the SEC to raise up to $24 million in an IPO. The number of shares and share price have not yet been disclosed. The company, which is developing immunotherapies for breast cancer, seeks a listing on Nasdaq under the ticker GLSI.
Humanigen Inc., of Burlingame, Calif., priced a private placement of about $72 million of common stock. Net proceeds will be used to fund development of the company's monoclonal antibody portfolio and for general corporate purposes, including the pivotal phase III trial of lenzilumab for the prevention and treatment of cytokine storm in COVID-19 pneumonia and the development of Humanigen's pipeline, including ZUMA-19, the CAR T study involving lenzilumab being conducted in collaboration with Kite Pharma, a unit of Foster City, Calif.-based Gilead Sciences Inc. J.P. Morgan Securities LLC is acting as the placement agent for the financing, which comprises a group of health care investors including Venrock Healthcare Capital Partners, Surveyor Capital, Healthcor, Valiant Capital Partners, First Light Asset Management and Ghost Tree Capital.
Pliant Therapeutics Inc., of South San Francisco, increased the share offering for its proposed IPO, now planning to offer 9 million shares priced at range of $14 to $16, which would bring in $135 million at the midpoint. Pliant, which is developing treatment for fibrosis, seeks to list on Nasdaq under the ticker PLRX. The company also plans to raise an additional $10 million through a concurrent private placement to Novartis AG, of Basel, Switzerland.
Sareum Holdings plc, of Cambridge, U.K., said it raised £718,500 (US$900,574), before expenses, through a placement by Hybridan LLP of 119.8 million new ordinary shares of 0.025 pence each in the capital of the company at 0.6 pence per share. Net proceeds, together with about £980,000 of existing cash, as of March 31, as well as an estimated tax credit of £150,000 expected to be received in January 2021, will be used to progress the company’s TYK2/JAK1 drug development programs as well as for working capital purposes. Sareum is targeting the completion of at least one of its TYK2/JAK1 inhibitor preclinical studies in the fourth quarter of this year, subject to successful progress. Clinical trial plans, including priority indications for both compounds, will also be developed in parallel.