Prothena raises $155.3M in follow-on

Antibody company Prothena Corp. plc (NASDAQ:PRTA) raised $155.3 million through the sale of 2.7 million shares at $57.50 in a follow-on underwritten by Cantor Fitzgerald. The price is a 4% discount to the company's close of $60.07 on Thursday, when Prothena proposed the offering after hours.

Next quarter, the company expects to complete enrollment in the Phase III VITAL Amyloidosis Study evaluating NEOD001 to treat newly diagnosed, treatment-naïve patients with amyloid light-chain (AL) amyloidosis and cardiac dysfunction. The humanized mAb targeting amyloid has Orphan Drug designation in the U.S. and EU to treat AL amyloidosis...