ARTICLE | Financial News

Bavarian amends rights issue

May 6, 2011 12:17 AM UTC

Bavarian Nordic A/S (CSE:BAVA) amended its rights issue and now plans to raise DKK700 million ($139 million) through the sale 13 million shares at DKK54. Carnegie; Jefferies; and Nordea Markets are joint global coordinators. Bavarian previously planned to raise DKK650 million. The biotech plans to use the proceeds to fund a Phase III trial of its ProstVac prostate cancer vaccine, which is expected to cost about $150 million and is slated to begin in 2H11 (see BioCentury Extra, March 10). ...