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ARTICLE | Financial News

Follow-on roundup: Acadia raises $275M, Rocket pockets $55M

November 30, 2018 6:28 PM UTC

CNS company Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) and gene therapy company Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) each priced follow-ons late Nov. 27, raising $275 million and $55 million, respectively.

Acadia markets Nuplazid pimavanserin, a small molecule serotonin receptor 2A (5-HT2A; HT2RA) inverse agonist approved to treat Parkinson's disease psychosis. The company sold 16.2 million shares at $17 in the offering, which was underwritten by BofA Merrill Lynch, J.P. Morgan, Goldman Sachs, Cowen, Cantor Fitzgerald, JMP and Needham. After the company announced the offering postmarket Nov. 26, its stock slid $2.46 (13%) to $17 on Nov. 27 but bounced back Nov. 28 to finish up $3.53 (21%) to $20.53...