Sept. 5 Financial Quick Takes: Zealand raises cash as it readies NDA; plus Bellus, Aerie, LNC, Veralox and Sigrid
Ahead of NDA submission, Zealand raising cash
Zealand Pharma A/S (CSE:ZEAL; NASDAQ:ZEAL) is raising DKK559.6 million ($82.4 million) via a private placement and directed share issue to existing investor Van Herk Investments. Zealand will sell nearly 4 million shares at DKK140.79; the shares will trade in Copenhagen beginning Sept. 11. Morgan Stanley is the placement agent. The deal comes as Zealand prepares to submit an NDA to FDA early next year for dasiglucagon to treat severe hypoglycemia; the company is building U.S. operations for commercialization.
Bellus prices $70M offering, begins trading on NASDAQ
Bellus Health Inc. (TSX:BLU; NASDAQ:BLU) shares closed at $7.11 on NASDAQ in their first day of trading Thursday after the company raised $70 million through the sale of 9.9 million shares at $7.10 in an offering. Underwriters of the offering, upsized from $60 million, are Jefferies, Cowen, Guggenheim, Baird and Bloom Burton. The company's BLU-5937, a small molecule P2X3 antagonist, is in Phase II testing for chronic cough. In Toronto, Bellus gained C$.05 on Thursday, closing at C$9.45...