Vital goes back for $35M in follow-on

Liver disease company Vital Therapies Inc. (NASDAQ:VTL) raised $35 million through the sale of 2 million shares at $17.50 in a follow-on underwritten by BofA Merrill Lynch; William Blair, Canaccord Genuity; and SunTrust Robinson Humphrey. The company proposed to raise up to $46 million in the offering late last month, when its stock price was $18.27.

Vital's human liver cell-based extracorporeal liver assist device (ELAD) has Orphan Drug designation in the U.S. and EU. Data from the Phase III VTI-208 trial to treat alcohol-induced liver decompensation (AILD) are expected in 2Q15. ...