Novelion Therapeutics Inc., of Vancouver, British Columbia, received written notice from Nasdaq that it is not in compliance with the continued listing requirement to maintain minimum market value of publicly held shares of $15 million. 

Algernon Pharmaceuticals Inc., of Vancouver, British Columbia, said it expects to raise between CA$2.5 million (US$1.9 million) and CA$5 million in a best efforts public offering of an undisclosed number of units intended to support up to three phase II trials.

Karuna Therapeutics Inc., of Boston, said it closed its IPO of about 6.4 million shares, which includes the full exercise of the underwriters' overallotment of 836,718 shares, priced at $16 per share. Gross proceeds were about $102.6 million.

Arbutus Biopharma Corp., of Warminster, Pa., sold part of its royalty interest on future global net sales of Onpattro (patisiran, Alnylam Pharmaceuticals Inc.) to OMERS, the defined benefit pension plan for municipal employees based in the Province of Ontario, Canada. 

In an ongoing crackdown on repackers, the FDA recently issued warning letters to three repackers of active pharmaceutical ingredients (API) for significant violations of current good manufacturing practice requirements.