March 5 Quick Takes: Zogenix, Karyopharm, BridgeBio, Cinclus, Culture Biosciences, Deerfield-Melinta
Zogenix, Karyopharm price follow-ons
Zogenix Inc. (NASDAQ:ZGNX) and Karyopharm Therapeutics Inc. (NASDAQ:KPTI) each priced follow-on offerings, raising a combined $350.2 million. Zogenix sold 8.5 million shares at $23.50, raising $200.2 million. The price is a 6% discount to its closing price of $24.92 on Tuesday, when it proposed the offering. The company’s Fintepla fenfluramine is under FDA review to treat seizure disorder Dravet syndrome. Karyopharm sold 6.3 million shares at $24 to raise $150 million; although it priced at a 13% discount to its close at $27.72 on Monday, it had gained 70% that day after revealing results of the Phase III BOSTON trial of Xpovio selinexor to treat multiple myeloma (see “Xpovio Second-Line Readout”).
BridgeBio upsizes notes offering
Hours after proposing a $350 million offering, BridgeBio Pharma Inc. (NASDAQ:BBIO) raised $475 million through the sale of 2.5% convertible senior notes due 2027. The company, which in-licenses preclinical and clinical assets and houses them in individual subsidiaries, had $577.1 million in cash at YE19...