ARTICLE | Financial News

Public financing roundup: Kadmon, TherapeuticsMD, GTx, Newron

September 27, 2017 12:00 AM UTC

On Tuesday, several biotechs announced public financing, including follow-ons from Kadmon Holdings Inc. (NYSE:KDMN) and TherapeuticsMD Inc. (NYSE-M:TXMD).

Kadmon raised $72 million through the sale of 24 million shares at $3 in a follow-on and a registered direct offering. The follow-on was underwritten by Jefferies, Piper Jaffray and H.C. Wainwright. The price is a 21% discount to its close of $3.79 on Monday, when it announced the offering after trading hours. Investors also received five-year warrants to purchase 9.6 million shares at $3.35...