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ARTICLE | Financial News

Auspex raises $60.6 million in follow-on

July 12, 2014 12:28 AM UTC

Rare neurology disease play Auspex Pharmaceuticals Inc. (NASDAQ:ASPX) raised $60.6 million through the sale of 3.2 million shares at $19.25 in a follow-on underwritten by Stifel; BMO Capital Markets; Baird; William Blair; and Ladenburg Thalmann. Auspex proposed to raise $69 million in the offering late last month, when its share price was $22.46.

Auspex expects top-line data from the Phase III First-HD trial of SD-809 to treat chorea (sudden, rapid uncontrolled movements) associated with Huntington's disease in 4Q14. The company plans to submit an NDA to FDA for the product -- a deuterium-substituted analog of tetrabenazine, a vesicular monoamine transporter 2 (VMAT2; SLC18A2) inhibitor -- under section 505(b)(2) of the Food, Drug and Cosmetic Act, which allows sponsors to reference data on safety and efficacy from the scientific literature or from previously approved products. ...