Adaptive Biotechnologies Corp., of Seattle, priced a public offering of 8 million shares of its common stock at $40 each, 6 million of which are being sold by Adaptive and 2 million by a shareholder. Adaptive granted the underwriters a 30-day option to purchase up to 1.2 million more shares at the same price. Th deal for gross proceeds of $240 million is expected to close on July 20. J.P. Morgan, Goldman Sachs & Co. LLC, and Bofa Securities are acting as joint lead book-running managers. Cowen, Guggenheim Securities and William Blair are serving as book-running managers as well. Shares of Adaptive (NASDAQ:ADPT) closed July 16 at $39.85, down $3.74.
Aptose Biosciences Inc., of San Diego, commenced an underwritten public offering of its common shares. The firm intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares. Piper Sandler & Co. is acting as the sole active book-running manager.
Atreca Inc., of South San Francisco, priced an underwritten public offering of about 7 million shares of its class A common stock and 781,250 shares of its class B common stock at $16 each for proceeds of $125 million. Atreca has granted the underwriters a 30-day option to purchase up to about 1.1 million more shares of class A stock. The deal is expected to close on or about July 20. Cowen and Co. LLC, Evercore Group LLLC and Stifel, Nicolaus & Co. Inc. are acting as joint book-running managers. Canaccord Genuity LLC is serving as lead manager. Roth Capital Partners LLC and Brookline Capital Markets are acting as co-managers.
Beigene Ltd., of Beijing, closed a registered direct offering of about 145 million ordinary shares, par value $0.0001 per share, to certain existing investors. Each was sold for about $14.23 per share ($185 per American depositary share), resulting in gross proceeds of about $2.08 billion and net proceeds of $2.07 billion. The offering was made without an underwriter or a placement agent.
Cytokinetics Inc., of South San Francisco, said it plans to offer $150 million of shares of its common stock in an underwritten public offering. The firm expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of stock sold. Goldman Sachs & Co. LLC, Piper Sandler & Co. and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. Barclays Capital Inc. is serving as an additional book-running manager.
Exalys Therapeutics Inc., of San Diego, was launched by Domain Associates and Catalys Pacific, with the closing of a $15 million series A round and the licensing of a platform of next-generation EP4 receptor antagonists from Eisai Co. Ltd., of Tokyo. The new company is focused on the development of potentially first-in-class therapies for the treatment of inflammatory disorders, with an initial target indication of the prevention of postoperative delirium, a serious and potentially life-threatening condition for which there are limited treatment options.
Imvax Inc., of Philadelphia, closed a $112 million series C financing. The round was led by existing investor HP Wild Holding AG, with significant participation from other major shareholders Ziff Capital Partners, Magnetar Capital and TLP Investment Partners. The round also includes participation from a new institutional investor, Invus. The financing will enable Imvax to continue development of lead product candidate IGV-001 for treatment of glioblastoma through phase II.
Inmune Bio Inc., of La Jolla, Calif., priced its underwritten public offering of about 2.1 million shares at $10 each for gross proceeds of about $21.7 million. The company has granted the underwriters an overallotment option, exercisable for 45 days from today to purchase up to an additional 326,086 shares of common stock at the public offering price. The deal is expected to close on or about July 20. BTIG LLC is acting as sole book-running manager of the offering, and National Securities Corp. is serving as co-manager.
Pandion Therapeutics Inc., of Watertown, Mass., said it plans to raise $119 million by offering 7 million shares at a price range of $16 to $18. The company plans to list on Nasdaq under the symbol PAND. Goldman Sachs, Morgan Stanley, SVB Leerink and BMO Capital Markets are the joint bookrunners on the deal.
Sosei Group Corp., of Tokyo, completed an international offering of new shares and Euro-yen denominated convertible bonds due 2025 that has raised about $200 million. The majority of funds will be used to pursue strategic growth initiatives, including a potentially transformative acquisition to secure long-term revenue growth and investments in novel technologies that complement and future-proof its drug discovery platform. The company also said it foresees expansion of its drug candidate discovery and early development into new target classes and in-licensing late-stage clinical assets to develop for the Japanese market.
Tonix Pharmaceuticals Holding Corp., of New York, closed its registered direct offering for gross proceeds of about $10.5 million. The company sold about 20.9 million shares at 50 cents apiece. Following the offering, Tonix had about 125.7 million shares outstanding. A.G.P./Alliance Global Partners acted as sole placement agent.
Virometix AG, of Schlieren, Switzerland, said it completed a CHF7.5 million (US$7.9 million) series B equity round. The new funds will be added to the previous seed and series A financings of CHF10.3 million, bringing the total capital raised to date by Virometix to CHF17.8 million. The series B round included participation from existing and new private investors and will ensure the company can complete the phase I trial of lead asset V-306 in respiratory syncytial virus, advance preclinical development of its vaccine candidates against SARS-CoV-2, progress other research collaborations and strengthen the team.
Xeris Pharmaceuticals Inc., of Chicago, said, in connection with its previously announced concurrent underwritten public offerings of common stock and 5% convertible senior notes due 2025, the underwriters have fully exercised their option to purchase an additional 1.1 million shares of common stock. Additionally, the underwriters previously fully exercised their option to purchase an additional $11.25 million aggregate principal amount of 5% convertible senior notes. The exercise of those options increases the size of the shares offering to an aggregate of 8.5 million shares at a price of $2.72 per share and increases the size of the notes offering to $86.25 million aggregate principal amount. Gross proceeds were about $109.4 million. Jefferies, SVB Leerink and Mizuho Securities acted as joint book-running managers for the shares offering. Jefferies, SVB Leerink, RBC Capital Markets and Mizuho Securities acted as joint book-running managers for the notes offering.