Ophthotech, MacroGenics set share numbers for follow-ons

Macular degeneration play Ophthotech Corp. (NASDAQ:OPHT) and cancer, autoimmune and infectious diseases company MacroGenics Inc. (NASDAQ:MGNX) both set share numbers for proposed follow-ons on Monday. Ophthotech plans to sell 1.9 million shares in a follow-on underwritten by Morgan Stanley; JPMorgan; Leerink; and Stifel. If sold at Ophthotech's close of $31.86 on Friday, before the amendment was announced, the company would raise $60.5 million. Ophthotech first proposed to raise up to $69 million in the offering on Jan. 31, when its share price was $31.16. The company's Fovista, a pegylated aptamer against platelet derived growth factor B ( PDGFB; PDGF2), is in Phase III testing to treat wet age-related macular degeneration (AMD) in combination with anti-VEGFs.

MacroGenics plans to sell 1.5 million shares in a follow-on underwritten by BofA Merrill Lynch; Leerink Partners; Stifel; Wedbush PacGrow; and Roth Capital Partners. If sold at MacroGenics' close of $36.04 on Monday, before the amendment was announced, the company would raise $54.1 million. MacroGenics first proposed to raise up to $90 million in the offering on Jan. 30, when its share price was $38.90. Shareholders plan to sell 1 million shares in a concurrent secondary offering. MacroGenics' margetuximab ( MGAH22) is in a Phase IIa trial to treat metastatic breast cancer. Next half, the company plans to start a Phase III trial of the Fc optimized mAb against HER2 to treat advanced gastroesophageal cancer. ...