Portola, T2 raise follow-ons
Portola Pharmaceuticals Inc. (NASDAQ:PTLA) raised $150 million through the sale of 3.1 million shares at $48 in a follow-on underwritten by Morgan Stanley, Credit Suisse, Citigroup and Cowen. The company proposed the offering after market close Thursday, when its shares were valued at $49.38. Portola dipped $0.39 to $48.99 on Friday.
The company expects to complete a rolling submission of a BLA to FDA by YE15 for andexanet alfa ( PRT064445), a recombinant protein that reverses the anticoagulant activity of Factor Xa inhibitors, and anticipates data next quarter from the Phase III APEX study of oral Factor Xa inhibitor betrixaban ( PRT054021) to prevent venous thromboembolism (VTE). Portola raised $99.8 million in a follow-on in March (see BioCentury Extra, March 10). ...