GW, Receptos set share numbers for follow-ons

On Monday, Receptos Inc. (NASDAQ:RCPT) and GW Pharmaceuticals plc (LSE:GWP; NASDAQ:GWPH) both set share numbers for proposed follow-ons. Receptos, which proposed to raise up to $75 million last week, said it plans to sell 2.8 million shares. If sold at the company's close of $29.76 on Monday, before the amendment was announced, Receptos would raise $81.8 million. Credit Suisse; Leerink; BMO Capital Markets; and Wedbush PacGrow are underwriters. Receptos was off $1.20 on Monday.

Also on Monday, Receptos said it started the Phase III portion of the Phase II/III RADIANCE trial, which is evaluating the company's RPC1063 to treat relapsing multiple sclerosis (MS). The selective sphingosine-1-phosphate receptor 1 ( S1PR1; S1P1; EDG1) agonist is also in the Phase II TOUCHSTONE trial for ulcerative colitis (UC) (see BioCentury Extra, Dec. 5, 2013). ...