Tesaro reaps $376.7M in follow-on

Tesaro Inc. (NASDAQ:TSRO) raised $376.7 million through the sale of 4.7 million shares at $81 in a follow-on underwritten by Citigroup, Leerink, Credit Suisse, Wells Fargo, Guggenheim, Mizuho, Raymond James, SunTrust and Wedbush PacGrow.

On Wednesday, Tesaro gained 108% and added $1.8 billion in market cap after its niraparib ( MK-4827) met the primary endpoint of improving progression free survival (PFS) in the Phase III NOVA trial to treat ovarian cancer. Tesaro plans to submit the oral poly(ADP-ribose) polymerase ( PARP) inhibitor to U.S. and EU regulators in 4Q16. ...