Funding roundup: Intercept, Ultragenyx, Bind
Intercept Pharmaceuticals Inc. (NASDAQ:ICPT), Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) and Bind Therapeutics Inc. (NASDAQ:BIND) raised a combined $359.5 million in follow-ons since market close on Wednesday.
Intercept raised $176 million through the sale of 1 million shares at $176. Citigroup; RBC Capital Markets; Deutsche Bank; BMO Capital Markets; Nomura; Wedbush PacGrow; JMP Securities; Needham; Oppenheimer; and Summer Street were underwriters. Intercept proposed the offering after market close on Tuesday when its shares were valued at $189.07. The company gained $17.50 to $201.26 on Thursday. Last week, FDA granted breakthrough therapy designation to Intercept's OCA obeticholic acid ( DSP-1747) to treat non-alcoholic steatohepatitis (NASH) with liver fibrosis (see BioCentury Extra, Jan. 29). ...