Actinium Pharmaceuticals Inc., of New York, said it priced its public offering of 76.9 million common shares or common stock equivalents in lieu thereof at 32.5 cents apiece for expected gross proceeds of approximately $25 million. Net proceeds will be used to complete the company’s ongoing pivotal phase III Sierra trial of lead candidate Iomab-B (iodine [131I] apamistamab) in acute myelogenous leukemia, to prepare and submit a BLA to the FDA and MAA to the EMA for the CD45 antagonist and to begin pre-commercialization activities for Iomab-B in the U.S. Proceeds also will fund phase I trials of the company’s refocused CD33 program to proof of concept and support its Awe technology platform, Iomab-Act program and other R&D efforts. H.C. Wainwright & Co. is exclusive placement agent for the offering, which is expected to close by June 19. Actinium’s shares (NASDAQ:ATNM) lost 6.5 cents on June 17, closing at 38 cents.
Aveo Pharmaceuticals Inc. (Aveo Oncology), of Boston, said it priced an underwritten public offering of 8.5 million common shares at $5.25 apiece for expected gross proceeds of approximately $44.6 million and granted underwriters a 30-day option to purchase up to approximately 1.3 million additional shares. Net proceeds will be used, in part, to fund commercialization activities for the VEGF receptor tyrosine kinase inhibitor tivozanib (Fotivda). SVB Leerink and Stifel are joint book-running managers, with Baird and H.C. Wainwright & Co. as co-lead managers for the offering, which is expected to close by June 19. Aveo’s shares (NASDAQ:AVEO) fell $1.09 on June 17 to close at $5.16.
Avidity Biosciences Inc., of San Diego, said it closed its IPO of about 16.6 million common shares, which included the full exercise by underwriters of their option to purchase about 2.2 million additional shares, priced at $18 apiece to raise gross proceeds of approximately $298.1 million. Cowen, SVB Leerink, Credit Suisse and Wells Fargo Securities acted as joint book-running managers for the offering. The company’s shares (NASDAQ:RNA), which rocketed 58.3% on their initial trading day on June 12, lost 80 cents on June 17, closing at $29.
Biocardia Inc., of San Carlos, Calif., said it priced its public offering of approximately 4.8. million common shares at $2.10 apiece for expected gross proceeds of $10 million and granted underwriters a 45-day option to purchase up to 714,190 additional shares to cover overallotments. Net proceeds will be used to complete enrollment in the ongoing pivotal Cardiamp cell therapy trial to treat heart failure and to fund development and pursue regulatory approval for product candidates. A.G.P./Alliance Global Partners is sole book-running manager, with Brookline Capital Markets, a division of Arcadia Securities LLC, and Dawson James Securities Inc. as co-managers for the offering, which is expected to close on June 19. The company’s shares (NASDAQ:BCDA) lost 78 cents on June 17 to close at $2.12.
Constellation Pharmaceuticals Inc., of Cambridge, Mass., said it priced an underwritten public offering of 5.5 million common shares at $35 apiece for expected gross proceeds of $192.5 million and granted underwriters a 30-day option to purchase up to 825,000 additional shares. J.P. Morgan, Jefferies, Cowen and RBC Capital Markets are joint bookrunners, with Suntrust Robinson Humphrey as lead manager and Baird as co-manager for the offering, which is expected to close on June 19. Constellation’s shares (NASDAQ:CNST) lost $3.98 on June 17, closing at $32.03.
Generation Bio Co., of Cambridge, Mass., said it closed its IPO of about 12.1 million common shares priced at $19 apiece, including approximately 1.6 million additional shares for the full exercise by underwriters of their overallotment option, raising approximately $230 million. J.P. Morgan, Jefferies and Cowen were joint book-running managers for the offering, with Wedbush Pacgrow as lead manager. The company’s shares (NASDAQ:GBIO), which gained nearly 30% on their initial trading day on June 12, hit an intraday high of $22.70 on June 17 before closing at $20.95 for a gain of 85 cents.
Hyloris Pharmaceuticals SA, of Liège, Belgium, launched its IPO on the Euronext Brussels with an offering of up to 5 million shares and a 30-day overallotment option of up to 15% in additional shares, expected to price in a range of €10 to €11.50 (US$11.22 to US$12.90) apiece. The offering size is expected to range from €53.75 million and €71.08 million, giving the company an implied market capitalization of €267.06 million to €284.39 million. Hyloris said insiders agreed to subscribe to approximately €22.7 million in IPO shares. That amount will be allocated to the development, up to and including regulatory approval, of the company’s existing portfolio, with another €11 million from the offering allocated to the establishment of a U.S. commercial team for most of the company’s intravenous cardiovascular portfolio. Funds from the IPO also are expected to allow Hyloris to expand its pipeline internally and through business development opportunities. The offering is expected to price on June 26, with trading on the Euronext Brussels expected to begin around June 29. KBC Securities and Kempen & Co. are joint global coordinators and joint bookrunners for the offering, which is expected to close on June 30.
Ideaya Biosciences Inc., of South San Francisco, proposed a public offering of up to $60 million common shares and said it plans to grant underwriters a 30-day option to purchase up to $9 million in additional shares, which were not priced. Net proceeds, along with existing cash, equivalents and marketable securities of $90.9 million as of March 31, will fund preclinical and clinical development of IDE-397, the company’s MAT2A inhibitor targeting solid tumors, and pipeline candidates targeting poly-ADP ribose glycohydrolase and a DNA damage target, as well as Ideaya’s share of costs to target Werner helicase under an agreement with Glaxosmithkline plc, of London. Funds from the offering also will support ongoing early development and potential monotherapy trials of IDE-196, the company’s protein kinase C inhibitor, and binimetinib, a MEK inhibitor to which New York-based Pfizer Inc. holds exclusive rights in the U.S. and Canada. J.P. Morgan, Citigroup and Jefferies are joint book-running managers for the offering. On June 17, Ideaya’s shares (NASDAQ:IDYA) closed at $18.57 for a gain of $5.73, or 45%.
Provention Bio Inc., of Oldwick, N.J., said it plans to offer 5.5 million common shares in an underwritten public offering and to grant underwriters a 30-day option to purchase up to 825,000 additional shares. Net proceeds will be used to fund continued development, regulatory and manufacturing activities and to begin pre-commercial activities for CD3 antagonist PRV-031, for which the company has a rolling BLA submission to the FDA to delay or prevent of type 1 diabetes (T1D) in at-risk individuals. Funds also will support continued development of IL-15 receptor antagonist PRV-015 in Celiac disease and CD79b modulator PRV-3279 and the coxsackievirus B-based vaccine PRV-101, both in T1D. SVB Leerink and Cantor Fitzgerald & Co. are joint book-running managers and Oppenheimer & Co. Inc. is lead manager for the offering, which was not priced. The company’s shares (NASDAQ:PRVB) closed on June 17 at $15.32, for a loss of $1.11.
Vaxcyte Inc., of Foster City, Calif., said it closed its IPO of about 18 million common shares, which included full exercise of the option by underwriters to purchase about 2.3 million additional shares, priced at $16 apiece for gross proceeds of $287.5 million. Bofa Securities, Jefferies and Evercore ISI were joint bookrunners, with Cantor and Needham & Co. as co-managers for the offering. The company’s shares (NASDAQ:PCVX), which gained 63.4% on their opening day on June 12 to close at $26.15, breached a new high of $34.96 on June 17 before closing at $34 for a gain of $1.10.