Cerecor Inc., of Rockville, Md., said it closed its underwritten offering of 15.18 million shares of its common stock. The net proceeds of approximately $35.4 million will be used for working capital and general corporate purposes, which include the funding of development of its product candidates, and general and administrative expenses.
Entasis Therapeutics Holdings Inc., of Waltham, Mass., said it closed the second tranche of the $35 million common stock and warrant investment by Brisbane, Calif.-based Innoviva Inc. It issued 12.67 million shares of common stock and warrants to purchase 12.67 million shares of common stock at an exercise price of $2.50 each for gross proceeds of approximately $31.7 million. The funds will support the completion of its ATTACK (Acinetobacter Treatment Trial Against Colistin), global phase III registration trial evaluating a fixed-dose combination of sulbactam and durlobactam against Acinetobacter baumannii infections. Following the closing of the financing, Innoviva will hold an aggregate of 14 million shares of common stock and warrants to purchase 14 million shares of common stock.