Allovir Inc., of Cambridge, Mass., a late clinical-stage cell therapy company, priced its upsized IPO of 16.25 million shares of common stock at $17 per share for gross proceeds of about $276.25 million. Underwriters will have a 30-day option to purchase up to an additional 2.4 million shares, which could add $41.4 million in proceeds. Morgan Stanley, J.P. Morgan, SVB Leerink and Piper Sandler & Co. are acting as joint book-running managers for the offering, set to close Aug. 3. Allovir’s shares (NASDAQ:ALVR) began trading July 30, ending their first day at $25.39, for a gain of 49%.

Cyclerion Therapeutics Inc., of Cambridge, Mass., disclosed a direct private sale of $24 million of Cyclerion shares of common stock to Slate Path Capital LP and Pappas Capital. Cyclerion sold about 6.1 million shares priced at $4 per share. Funding is expected to accelerate advancement of clinical studies, including IW-6463 in mitochondrial encephalomyopathy, lactic acidosis and stroke-like episodes and Alzheimer’s disease with vascular pathology. The company is also preparing for further development of olinciguat in sickle cell disease should upcoming phase II data prove positive.

Cytodyn Inc., of Vancouver, Washington, said it completed a nondilutive convertible debt offering with an institutional investor, which provides $25 million of immediately available capital. The note, which has a two-year maturity, bears interest at the rate of 10% per annum and is secured by all assets of the company, excluding its intellectual property. The note may be converted at the option of the investor into shares of the company’s common stock at a conversion price of $10 per share. Cytodyn said funds will help advance CCR5 antagonist leronlimab in COVID-19, as soon as the regulatory pathway is clear, as well as further development of the drug in cancer and HIV.

Salarius Pharmaceuticals Inc., of Houston, which is developing drugs targeting the epigenetic causes of cancers, priced a public offering of about 4.5 million shares at $1.20 apiece for gross proceeds of about $5.3 million. Salarius granted underwriter Ladenburg Thalmann & Co. Inc. a 45-day option to purchase up to 669,181 additional shares. The offering is set to close Aug. 3. Shares of Salarius (NASDAQ:SLRX) closed July 30 at $1.12, down 14 cents.

Spectrum Pharmaceuticals Inc., of Henderson, Nev., priced a public offering of about 21.7 million shares at $3 each for gross proceeds of about $65 million. Spectrum granted the underwriters a 30-day option to purchase up to an additional 3.25 million shares. The company intends to use the net proceeds for general corporate purposes, including the continued development of its pipeline assets, sales and marketing activities, pre-launch activities associated with Rolontis (eflapegrastim) and potential business development initiatives. Jefferies and Cantor Fitzgerald & Co. are acting as the joint book-running managers, while JMP Securities is acting as the lead manager and B. Riley FBR and H.C. Wainwright & Co. are acting as co-managers for the offering, set to close Aug. 3. Shares of Spectrum (NASDAQ:SPPI), which jumped 13% earlier this week on data from its phase II Zenith20 study of poziotinib in non-small-cell lung cancer, closed July 30 at $3.10, down 78 cents.

Zentalis Pharmaceuticals Inc., of New York, priced a public offering of about 4.1 million shares at $35 per share for gross proceeds of about $144.4 million. The oncology-focused firm granted underwriters a 30-day option to purchase up to an additional 618,750 shares. Morgan Stanley, Jefferies, SVB Leerink and Guggenheim Securities are acting as joint book-running managers for the offering, set to close Aug. 3. Shares of Zentalis (NASDAQ:ZNTL) closed July 30 at $35.06, down $1.35.

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