BioCentury
ARTICLE | Financial News

RedHill, Trovagene price follow-ons

July 18, 2015 12:10 AM UTC

RedHill Biopharma Ltd. (Tel Aviv:RDHL; NASDAQ:RDHL) raised $40 million on Friday through the sale of 2.5 million ADSs at $16.25 in an offering underwritten by Nomura; Roth Capital Partners; MLV; and H.C. Wainwright. Each ADS represents 10 ordinary shares. The company proposed the offering after market close on Tuesday, when its shares were valued at $17.68. RedHill lost $1.94 (11%) to $16.25 on Friday. Last month, RedHill's antibiotic RHB-105 met the primary endpoint of a Phase III study to treat Helicobacter pylori infection (see BioCentury Extra, June 15). ...