BioCentury
ARTICLE | Financial News

Follow-ons: Ultragenyx, NeuroDerm, Synthetic Biologics

July 17, 2015 1:31 AM UTC

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), NeuroDerm Ltd. (NASDAQ:NDRM) and Synthetic Biologics Inc. (NYSE-M:SYN) raised a combined $370.9 million in follow-on offerings on Thursday.

Ultragenyx raised $264 million through the sale of 2.2 million shares at $120 in an offering underwritten by Morgan Stanley; JPMorgan; Cowen; JMP Securities; and Wedbush PacGrow. The company proposed the offering after market close Tuesday, when its shares were valued at $126.77. Ultragenyx lost $1.33 to $124.87 on Thursday. This half, the company intends to begin two Phase III trials of KRN23 ( UX023) to treat X-linked hypophosphatemia. It announced positive interim results from a Phase II study of the compound last week (see BioCentury Extra, July 9). ...