Neurocrine raises $142 million in bumped-up follow-on
Neurocrine Biosciences Inc. (NASDAQ:NBIX) raised $142 million through the sale of 8 million shares at $17.75 in a bumped-up follow-on underwritten by Jefferies; JPMorgan; Deutsche Bank; Credit Suisse; and Cowen. Neurocrine proposed to sell 7 million shares on Tuesday, when its share price was $17.84.
Neurocrine's elagolix is in Phase III testing to treat endometriosis. AbbVie Inc. (NYSE:ABBV) has rights to the non-peptide small molecule gonadotropin-releasing hormone (GnRH) antagonist. Last month, Neurocrine said its lead internal program, NBI-98854, met the primary endpoint in the intent-to-treat (ITT) population of the Phase IIb Kinect 2 Study to treat tardive dyskinesia. The compound is a selective vesicular monoamine transporter 2 (VMAT2; SLC18A2) inhibitor. ...