BioCentury
ARTICLE | Financial News

Durata, Synergy planning follow-ons

April 10, 2013 1:31 AM UTC

Infectious disease company Durata Therapeutics Inc. (NASDAQ:DRTX) amended and gastrointestinal company Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) proposed follow-ons after market close on Tuesday. Durata, which proposed the follow-on in late March, now plans to raise up to $50 million in a follow-on underwritten by BofA Merrill Lynch; Credit Suisse; Jefferies; JMP Securities; and RBC Capital Markets, while Synergy plans to raise up to $90 million in a follow-on underwritten by Credit Suisse; Citigroup; and Canaccord.

Durata plans to submit an NDA to FDA mid-year and an MAA to EMA by year end for IV dalbavancin to treat acute bacterial skin and skin structure infections (ABSSSI). The company gained the second-generation once-weekly glycopeptide antibiotic through its 2009 acquisition of Vicuron Pharmaceuticals Inc., which was a subsidiary of Pfizer Inc. (NYSE:PFE). On Tuesday, Durata was off $0.09 to $8.38 (see BioCentury Extra, Feb. 25). ...