BioCentury
ARTICLE | Finance

Watch me launch

Investors front-run Kynamro launch with $171M for Isis

May 13, 2013 7:00 AM UTC

Isis Pharmaceuticals Inc. (NASDAQ:ISIS) didn't wait for investors to learn launch details of hypercholesterolemia drug Kynamro mipomersen. Instead, the biotech took advantage of recent share price gains to raise $171 million in the largest follow-on this quarter.

In March, the Genzyme Corp. unit of Sanofi (Euronext:SAN; NYSE:SNY) launched Kynamro in the U.S. to treat homozygous familial hypercholesterolemia (hoFH). Neither Isis nor Genzyme, which has rights from Isis, divulged details in earnings announcements this month...