Raising $8.7 million in a private placement, CytRx Corp. said it's using most of the money to form a subsidiary that will develop orally active small-molecule RNA interference drugs for obesity and Type II diabetes. (BioWorld Today)

Marching ahead with its non-benzodiazepine insomnia drug indiplon, Neurocrine Biosciences Inc. said it priced an offering of 3.75 million shares at $53 per share, for net proceeds of about $200 million. (BioWorld Today)