Wall Street’s enthusiasm ran high for Cambridge, Mass.-based Black Diamond Therapeutics Inc. (BDT), shares of which (NASDAQ:BDTX) closed 108% higher at $39.48, after the company priced its upsized IPO of about 10.5 million shares at $19 each, for gross proceeds of about $201 million. As recently as December, the company pulled down $85 million in a series C financing. BDT’s lead product candidates target oncogenic driver mutations of the ErbB kinases in EGFR and HER2. At the time, the firm noted that it had raised $194 million thus far. With the IPO, which first set sights on 8.9 million shares in the range of $16 to $18 each, the picture grows even brighter.
DUBLIN – Bergenbio ASA raised NOK219.9 million (US$23.9 million) in a private placement priced at NOK18 per share. The fresh injection of cash will enable the Bergen, Norway-based firm to expand its broad development program for lead drug candidate bemcentinib (BGB-324), a first-in-class Axl inhibitor, which is currently in phase II development in acute myeloid leukemia (AML), non-small-cell lung cancer (NSCLC), triple-negative breast cancer and melanoma.
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