Sept. 6 Financial Quick Takes: Turning Point, uniQure raise follow-ons; plus Autolus, Frequency, ADC
Turning Point, uniQure price follow-ons
Turning Point Therapeutics Inc. (NASDAQ:TPTX) and uniQure N.V. (NASDAQ:QURE) raised a total of nearly $428 million in follow-on offerings priced late Thursday.
Days after a readout from the first part of a Phase I/II trial of its lead candidate repotrectinib, Turning Point raised $202.5 million through the sale of 4.5 million shares at $45. The price is a 12% discount to the company’s closing price of $51.01 on Tuesday, when it proposed the offering after market hours. On Tuesday, the company reported interim data from the Phase I portion of the TRIDENT-1 study showing that the inhibitor of ALK, ROS1, TrkA, TrkB and TrkC had a confirmed overall response rate of 91% in tyrosine kinase inhibitor (TKI)-naive, ROS1-positive patients with non-small cell lung cancer (NSCLC). TRIDENT-1's Phase II portion is in progress...