Allena Pharmaceuticals Inc., of Newton, Mass., said the underwriter of its public offering agreed to increase its size, purchasing on a firm commitment basis approximately 5.1 million common shares priced at $1.30 apiece for expected gross proceeds of approximately $6.7 million. Allena granted the underwriter a 30-day option to purchase up to 768,807 additional shares. The company did not disclose specific use of proceeds. H.C. Wainwright & Co. is sole book-running manager for the offering, which is expected to close by July 30. On July 28, Allena’s shares (NASDAQ:ALNA) fell nearly 16%, closing at $1.30, for a loss of 24 cents.

Biontech SE, of Mainz, Germany, said it closed its underwritten offering of 5.5 million American depositary shares (ADSs), each representing one ordinary share, at $93 per ADS, for gross proceeds of approximately $512 million. J.P. Morgan, Bofa Securities and Berenberg acted as lead joint book-running managers for the offering, with UBS Investment Bank as joint book-running manager, Canaccord Genuity as lead manager and Commerzbank, Wolfe Capital Markets and Advisory and Bryan Garnier & Co. as co-managers. Biontech and partner Pfizer Inc., of New York, are set to receive $1.95 billion from the U.S. government for the first 100 million doses of their jointly developed mRNA-based COVID-19 vaccine as part of Operation Warp Speed. On July 28, Biontech ADSs (NASDAQ:BNTX) closed at $85.38, down $1.15.

Biotheryx Inc., of San Diego, said it closed a $35 million series D financing led by MSD Partners LP. Proceeds will accelerate expansion of the ongoing phase I trial of cyclin-dependent kinase-7/9 inhibitor BTX-A51 in acute myelogenous leukemia and support IND-enabling studies in candidates that use the company’s protein homeostatic modulators, or PHMs, and PHM-based proteolysis targeting chimeras, or PROTACs. In conjunction with the financing, Robert Platek, MSD partner and portfolio manager, is set to join the Biotheryx board. The Alex Brown division of Raymond James served as sole placement agent.

Bioxcel Therapeutics Inc., of New Haven, Conn., said it initiated an underwritten public offering of $200 million of common shares, in part, to fund ongoing trials and commercialization preparation for BXCL-501 (dexmedetomidine, sublingual), an alpha 2A adrenoceptor agonist in phase III development to treat agitation in people with schizophrenia and bipolar disorder. Bofa Securities, Goldman Sachs & Co. LLC, Jefferies LLC, Guggenheim Securities LLC and Suntrust Robinson Humphrey are book-running managers for the offering, which was not priced. The company’s shares (NASDAQ:BTAI) lost $8.94, or about 15%, on July 28, to close at $52.54.

Cormedix Inc., of Berkeley Heights, N.J., said it priced an underwritten public offering of approximately 4.4 million common shares at $4.50 apiece for expected gross proceeds of approximately $20 million. The company granted underwriters a 30-day option to purchase up to 666,666 additional shares. Net proceeds will be used, in part, to obtain regulatory approval and commercialization of the Defencath catheter lock solution in the U.S. to treat people with end-stage renal disease who receive hemodialysis via central venous catheter. In July, the company completed the submission of its NDA to the FDA and requested priority review. Suntrust Robinson Humphrey and JMP Securities are joint book-running managers for the offering, expected to close on July 30. On July 28, Cormedix shares (NASDAQ:CRMD) fell more than 21%, closing at $4.73 for a loss of $1.27.

Harmony Biosciences Holdings Inc., of Plymouth Meeting, Pa., filed with the SEC for an IPO of up to $100 million, including overallotments. The company's marketed product, Wakix (pitolisant), is a histamine H3 receptor inverse agonist that was approved by the FDA in August 2019 to treat excessive daytime sleepiness (EDS) in adults with narcolepsy. The company plans to initiate a phase III trial in pediatric patients in the second half of 2021 to pursue indications for EDS and cataplexy and to begin phase II trials for EDS and other symptoms in people with Prader-Willi syndrome in the second half of 2020 and in adults with myotonic dystrophy in the first half of 2021. Harmony plans to list on Nasdaq under the ticker HRMY. Goldman Sachs & Co. LLC, Jefferies LLC and Piper Sandler & Co. are joint bookrunners on the deal, which was not priced. In its filing, the company reported $71.5 million in cash and equivalents as of March 31.

Okyo Pharma Ltd., of London said it raised £3.5 million (US$4.1 million) through the issue of convertible loan notes to private investors. The notes carry an interest rate of 2.15% compounding with a maximum term of four years and may be converted into ordinary shares at a price of 8.5 pence apiece. Okyo said proceeds will be used to advance its pipeline.

Polyphor AG, of Allschwil, Switzerland, said it agreed to an equity-linked financing arrangement with the French firm IRIS to raise up to CHF19.3 million (US$21 million) over two years. IRIS will receive shares created from Polyphor’s conditional capital based on the interest-free mandatory convertible bonds program. Over the two-year period, IRIS committed to buy 24 monthly tranches of CHF800,000 of unsecured zero-coupon mandatory convertible bonds. During the term of the financing, IRIS will convert each month the mandatory convertible bonds into shares at a discount to the applicable volume-weighted average price, with the shares expected to be sold on the market or in block trades. Polyphor retained the sole discretion to suspend or terminate the staggered financing. Polyphor said the arrangement provided financial flexibility to continue to advance balixafortide, its CXCR4 chemokine antagonist, in phase III development in metastatic breast cancer.

Praxis Precision Medicines Inc., of Cambridge, Mass., said it raised approximately $110 million in a series C1 financing led by Eventide Asset Management with participation from existing investors Vida Ventures, Novo Holdings, Blackstone Life Sciences and OCV Partners and new investors Avoro Capital Advisors, Surveyor Capital (a Citadel company), Point72, Cormorant Asset Management, Qatar Investment Authority, Irving Investors, Adage Capital Management, Verition Fund Management and Ample Plus Fund. The company, which is targeting multiple CNS disorders, previously raised more than $100 million. Its pipeline includes the GABAA positive allosteric modulator PRAX-144, in phase II development to treat major depressive disorder and perimenopausal depression; PRAX-944, a T-type calcium channel blocker in phase II to treat essential tremor; and PRAX-562, in phase I development in pediatric epilepsy and adult cephalgia.

Propanc Biopharma Inc., of Melbourne, Australia, said it received an additional tranche from a lead institutional investor to support its operations and working capital. To date, the investor has funded $550,000 of a $3 million financing agreement as the company prepares lead candidate, PRP (proteolytic proenzymes), for a phase Ib study in individuals with advanced solid tumors, expected to begin in early 2021. The funds also will be used to validate a pharmacokinetics method and quality assurance review of the finished product manufacture of the PRP candidate.

TCR2 Therapeutics Inc., of Cambridge, Mass., said it launched an underwritten public offering of 6 million common shares and expects to grant underwriters a 30-day option to purchase up to 900,000 additional shares, which were not priced. Jefferies LLC, SVB Leerink LLC, Piper Sandler & Co. and BMO Capital Markets Corp. are joint book-running managers, with Suntrust Robinson Humphrey as co-manager. A day earlier, the company reported an efficacy signal in phase I data from its mesothelin modulator, TC-210, in solid tumors. On July 28, TCR2’s shares (NASDAQ:TCRR) closed at $16.28 for a loss of 11 cents.

Zentalis Pharmaceuticals Inc., of New York, said it initiated an underwritten public offering of 3.75 million common shares and expects to grant underwriters a 30-day option to purchase up to 562,500 additional shares, which were not priced. Morgan Stanley & Co. LLC, Jefferies LLC, SVB Leerink LLC and Guggenheim Securities LLC are joint bookrunners. Zentalis shares (NASDAQ:ZNTL) lost $2.06 on July 28, to close at $37.94.

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