Retrophin raises $25M, negotiating for neurology product

Shares of Retrophin Inc. (OTCQB:RTRX) jumped on a newsy Friday that included a fundraising and news it is negotiating a U.S. license for an undisclosed neurology candidate. Retrophin raised $25 million through the sale of about 5.6 million shares at $4.50 in a private placement to new and existing institutional investors, who also received five-year warrants to purchase 2.8 million shares at $6. Stifel and Roth Capital Partners were placement agents.

Retrophin also announced on Friday that it paid an undisclosed fee to an undisclosed pharma in exchange for an exclusive 120-day period to negotiate a U.S. license to develop and commercialize a product for autism and schizophrenia. ...