With the way apparently clearing for approval of its low-molecular-weight heparin, Momenta Pharmaceuticals Inc. raised about $130.4 million by selling about 4.8 million shares of stock at $27.02 each. (BioWorld Today)
Lucentis is on the march. Again.Last week, Genentech Inc. released the detailed data from the Phase III MARINA study of Lucentis (ranibizumab) in wet age-related macular degeneration, confirming interim data disclosed in May - but the news got even better.
About a week after reporting solid second-quarter sales for its anti-nausea drug Aloxi for chemotherapy patients, MGI Pharmaceuticals Inc. disclosed its plan to buy out Guilford Pharmaceuticals Inc. for $177.5 million in cash and stock - thus adding to its cancer portfolio and more. (BioWorld Today)
Affymax Inc. raised $60 million in a Series D financing to push along its Phase II candidate Hematide for anemia, which is expected to be studied in four separate trials by late fall. (BioWorld Today)
In late December 2003, when Pfizer Inc. agreed to buy out Esperion Therapeutics Inc. for $1.3 billion - $35 per share, which amounted to a 54 percent premium to the average closing price during the previous 20 days - the pharmaceutical giant paid big for an opportunity that seemed even bigger.
