Retrophin to raise $40 million, list on NASDAQ

Retrophin Inc. (OTCQB:RTRX) plans to raise up to $40 million in a follow-on and list its shares on NASDAQ. The move follows two deals the company announced earlier this month. Retrophin is acquiring Kyalin Biosciences Inc. (San Diego, Calif.) and will gain Kyalin's intranasal delivery form of carbetocin, a synthetic analog of oxytocin in development for autism. Novartis AG (NYSE:NVS; SIX:NOVN) also granted Retrophin exclusive, U.S. rights to develop and commercialize Syntocinon oxytocin nasal spray. Novartis discontinued Syntocinon -- which was approved to assist initial postpartum milk ejection -- for commercial reasons. Retrophin plans to reintroduce the product in the U.S. in 2Q14. ...