BioCentury
ARTICLE | Financial News

Loxo raises $120M in follow-on

January 6, 2017 12:55 AM UTC

Loxo Oncology Inc. (NASDAQ:LOXO) raised $120 million through the sale of 3.9 million shares at $31 in a follow-on underwritten by Morgan Stanley, Citigroup, Cowen and Stifel. The price is a 5% discount to Loxo's closing price of $32.69 on Wednesday, before it proposed the offering. Loxo gained $0.56 to $33.25 on Thursday.

On Dec. 19, Loxo gained 26% after it disclosed a submission timeline for larotrectinib (LOXO-101) and reported new data from a Phase I study of the candidate. It expects to submit an NDA to FDA by early 2018, and an MAA to EMA in 2018. Loxo intends to seek larotrectinib's approval to treat solid tumors with neurotrophic tyrosine kinase (NTRK)-fusion proteins in patients requiring systemic therapy who have progressed following prior treatment or who have no acceptable alternatives (see BioCentury Extra, Dec. 19, 2016)...

BCIQ Company Profiles

Loxo Oncology Inc.