Anacor raises $250M in note deal

Anacor Pharmaceuticals Inc. (NASDAQ:ANAC) raised $250 million in a private placement of senior convertible notes. The unsecured notes bear 2% interest, mature in 2023 and initially convert at $70.82, which is a 21% premium to the company's close at $58.66 on Wednesday, before the deal was announced.

Last month, FDA accepted for review an NDA for Anacor's crisaborole ( AN2728) to treat mild to moderate atopic dermatitis in children and adults. The PDUFA date is Jan. 7, 2017. ...