Dermira raises $126M in follow-on

Dermira Inc. (NASDAQ:DERM) raised $126 million through the sale of 4.5 million shares at $28 in a follow-on underwritten by Leerink, Cowen, Guggenheim and Needham. Dermira proposed the offering after market close on Tuesday, when its stock price was $30.21.

Last week, Dermira's DRM04 met both co-primary endpoints in the Phase III ATMOS-2 trial and one of two co-primary endpoints in the Phase III ATMOS-1 study to treat primary axillary hyperhidrosis. The company hopes to submit an NDA in 2H17 for the topical anticholinergic agent (see BioCentury Extra, June 1). ...