ARTICLE | Financial News

Receptos rises after $360M offering

November 20, 2014 2:37 AM UTC

Receptos Inc. (NASDAQ:RCPT) gained $4.97 to $107.95 Wednesday after it raised $360 million through the sale of 3.6 million shares at $100 in a follow-on underwritten by Credit Suisse; Leerink; Evercore; BMO; Wedbush PacGrow; and Nomura. Receptos proposed to raise $325 million after market close on Monday when the shares finished at $104.22.

In December 2013, the company began the Phase III portion of the ongoing RADIANCE trial of RPC1063 to treat relapsing multiple sclerosis (MS). Receptos plans to begin a second Phase III study to treat MS in 1H15. Both trials have an SPA from FDA. The company also plans to start a Phase III study of the compound to treat ulcerative colitis (UC) and a Phase II trial to treat Crohn's disease next year. ...