Receptos proposes $325M follow-on

Receptos Inc. (NASDAQ:RCPT) said it plans to raise $325 million in a follow-on underwritten by Credit Suisse; Leerink; Evercore; BMO; Wedbush; and Nomura. In two prior follow-ons this year, Receptos raised $117.4 million in January and $205.2 million in June.

Last month, Receptos reported that RPC1063 led to clinical remission at week 8 in 16.4% of patients compared to 6.2% of patients on placebo (p<0.05) in the Phase II TOUCHSTONE trial to treat ulcerative colitis (UC) (see BioCentury Extra, Oct. 28). ...