ARTICLE | Financial News

Inotek raises $68.9M in follow-on

August 14, 2015 2:08 AM UTC

Inotek Pharmaceuticals Corp. (NASDAQ:ITEK) raised $68.9 million through the sale of 5.4 million shares at $12.75 in a follow-on underwritten by Cowen; Piper Jaffray; and Nomura. The company filed to raise up to $57.5 million on July 31, when its shares were valued at $12.99. Inotek gained $0.77 to $14.27 on Thursday.

In 4Q15, Inotek intends to begin a Phase III study of trabodenoson ( INO-8875) to treat intraocular pressure associated with glaucoma; it expects top-line data by early 2017. Trabodenoson is a selective adenosine A1 receptor ( ADORA1) agonist. ...