Brickell Biotech Inc., of Boulder, Colo., priced a public offering of 17.5 million shares, which includes prefunded warrants to purchase shares of common stock in lieu of shares of common stock, and investor warrants to purchase up to an aggregate of 17.5 million shares. Each share of common stock (or prefunded warrant in lieu thereof) is being sold together with one investor warrant to purchase one share of common stock at a combined offering price of $1.15, for total gross proceeds of about $20.1 million. Brickell anticipates using the net proceeds for research and development, including clinical trials, working capital and general corporate purposes. Oppenheimer & Co. Inc. is acting as the sole book-running manager and Lake Street Capital Markets LLC is acting as lead manager for the offering, set to close on or about June 22. Shares of Brickell (NASDAQ:BBI) closed June 18 at $1, down 29 cents.
Catalyst Biosciences Inc., of South San Francisco, priced a public offering of about 4.6 million shares at $6.50 apiece for gross proceeds of about $30 million. Underwriters have a 30-day option to purchase up to an additional 692,307 shares. Net proceeds will be used for general corporate purposes, which may include research and development activities in its complement program, clinical and manufacturing activities for marzeptacog alfa and dalcinonacog alfa, other research and development activities, capital expenditures and to meet working capital needs. Raymond James & Associates Inc. is acting as the sole book-running manager, National Securities Corp., a wholly owned subsidiary of National Holdings Inc., is acting as lead manager and Lifesci Capital LLC and Jonestrading Institutional Services LLC are acting as co-managers for the offering, expected to close June 22. Shares of Catalyst (NASDAQ:CBIO) closed June 18 at $6.28, down 99 cents.
Celldex Therapeutics Inc., of Hampton, N.J., said it closed its public offering of about 15.4 million shares, including about 2 million sold pursuant to the full exercise of the underwriters’ option, priced at $15 per share for gross proceeds of about $150 million. Those funds, along with current cash, equivalents and marketable securities, are expected to be sufficient to meet estimated working capital requirements and fund currently planned operations through 2023, the company said. Cantor Fitzgerald & Co. acted as the sole book running manager, and H.C. Wainwright & Co. acted as co-manager.
Ideaya Biosciences Inc., of South San Francisco, priced a public offering of about 6.7 million shares at $15 each for gross proceeds of about $100 million. Underwriters have a 30-day option to purchase an additional 1 million shares. Net proceeds, along with existing cash, cash equivalents and short-term and long-term marketable securities, will be used to support preclinical and clinical development of MAT2A inhibitor IDE-397 and other product candidates, as well as its share of costs for targeting WRN under the previously announced collaboration with London-based Glaxosmithkline plc. Proceeds also will be used toward other R&D efforts and for working capital and other general corporate purposes. J.P. Morgan, Citigroup and Jefferies are acting as joint book-running managers for the offering, set to close on or about June 22. Shares of Ideaya (NASDAQ:IDYA) closed June 18 at $14.26, down $4.31.
Iveric Bio Inc., of New York, priced an upsized public offering of about 24.5 million shares at $4.10 per share and, to certain investors in lieu of common stock, prefunded warrants to purchase 1.9 million shares of its common stock at a price to the public of $4.099 per prefunded warrant. In addition, in connection with the public offering, the company granted the underwriters an option for a period of 30 days to purchase up to an additional 3.97 million shares of common stock at the public offering price. The aggregate gross proceeds are expected to be about $143.9 million. Cowen and Credit Suisse are acting as the book-running managers for the public offering and as placement agents for the concurrent private placement. Wedbush Pacgrow is acting as lead manager for the public offering. The public offering and the concurrent private placement are expected to close on or about June 22. Shares of Iveric (NASDAQ:ISEE) gained $1.69, or 38%, to close June 18 at $6.13.
Leap Therapeutics Inc., of Cambridge, Mass., priced a public offering of common stock at $2 per share and prefunded warrants to purchase shares of its common stock at a public offering price of $1.999 per prefunded warrant, for gross proceeds of about $45 million. Leap granted underwriters a 30-day option to purchase up to an aggregate of an additional 3.4 million shares. Net proceeds will support continued development of DKN-01, manufacturing of clinical trial material and general corporate purposes. Piper Sandler & Co. and Raymond James & Associates, Inc. are acting as book-running managers, while Robert W. Baird & Co. Inc. is acting as lead manager. H.C. Wainwright & Co. and Ladenburg Thalmann & Co. Inc are acting as co-managers. Shares of Leap (NASDAQ:LPTX) closed June 18 at $2.04, down 48 cents.
Provention Bio Inc., of Oldwick, N.J., priced its public offering of 6.6 million shares at $14.50 per share for gross proceeds of $95.7 million. Underwriters have a 30-day option to purchase up to an additional 990,000 shares. Provention intends to use the net proceeds for general corporate purposes, including the continued funding of the clinical development, regulatory and manufacturing activities, and pre-commercial activities for PRV-031; development activities for PRV-015; development activities for PRV-3279 and PRV-101; and possible acquisition or in-licensing of other product candidates. SVB Leerink and Cantor Fitzgerald & Co. are acting as joint book-running managers, while Oppenheimer & Co. Inc. is acting as lead manager and H.C. Wainwright & Co. and SMBC Nikko are acting as co-managers for the public offering, set to close on or about June 22. Shares of Provention (NASDAQ:PRVB) closed June 18 at $15.96, up 64 cents.
Renovion Inc., of Chapel Hill, N.C., said it completed a series A financing of $8.1 million to fund the development and clinical programs associated with lead therapeutic candidate ARINA-1, a nebulized therapy developed to improve mucus clearance and decrease inflammation in patients diagnosed with chronic lung disease. The financing round was led by White Rock Capital Management.