Erytech raises $125M, lists on NASDAQ

Cancer company Erytech Pharma S.A. (Euronext:ERYP; NASDAQ:ERYP) raised $143.8 million in a follow-on on NASDAQ and concurrent private placement. The company raised $125.3 million through the sale of 5.4 million ADSs at $23.26 in its initial listing on NASDAQ underwritten by Jefferies, Cowen, Oddo BHF and JMP Securities. Concurrently, the company raised €15.8 million ($18.5 million) through the sale of 791,116 shares at €20 in a private placement. The figures include a 702,915 ADS and 103,189 share overallotment on Nov. 15. The private placement was priced at a 17% discount to Erytech’s close of €24.19 on Oct. 6, when the offering was proposed after market hours (see BioCentury, Oct. 13).

Last month, Erytech resubmitted an MAA to EMA for Graspa eryaspase to treat relapsed or refractory acute lymphoblastic leukemia (ALL). The company withdrew an MAA for the product in November 2016...