Ignyta raises $160M in upsized follow-on

Ignyta Inc. (NASDAQ:RXDX) said it raised $160 million through the sale of 10 million shares at $16 in a bumped-up follow-on underwritten by JPMorgan, Jefferies, Cantor Fitzgerald, Ladenburg Thalmann and SunTrust Robinson Humphrey. The price is a 2% discount to its close of $16.25 on Wednesday, when it proposed the follow-on after trading hours.

Ignyta jumped 13% on Wednesday when it reported interim data from the Phase II STARTRK-2 basket study of entrectinib (RXDX-101). Among patients with c-ros proto-oncogene 1 receptor tyrosine kinase (ROS1) fusion-positive, locally advanced or metastatic NSCLC, entrectinib led to an objective response rate of 78% (95% CI: 60.0, 90.7), as measured by investigator assessment, and 69% (95% CI: 50.0, 83.9) as measured by blinded independent central review (see BioCentury Extra, Oct. 18)...