ARTICLE | Financial News

Acceleron prices $200M follow-on

September 22, 2017 7:56 PM UTC

On Sept. 20, Acceleron Pharma Inc. (NASDAQ:XLRN) raised $200 million through the sale of 5.4 million shares at $37 in a bumped-up follow-on underwritten by JPMorgan, Citigroup and Leerink Partners. The price is a 5% discount to Acceleron's close of $38.97 on Sept. 19, when it proposed after trading hours to raise $150 million.

Acceleron expects top-line data in mid-2018 from Phase III studies of lead candidate luspatercept (ACE-536) to treat myelodysplastic syndromes (MDS) and beta-thalassemia. Celgene Corp. (NASDAQ:CELG) shares rights to luspatercept, a modified activin receptor type 2B (ACVR2B) fusion protein that inhibits several ligands in the TGF beta superfamily...