BioCentury
ARTICLE | Company News

Loxo raises $226.8M in follow-on

June 15, 2017 7:07 PM UTC

Loxo Oncology Inc. (NASDAQ:LOXO) raised $226.8 million through the sale of 3.2 million shares at $72 in a follow-on underwritten by Morgan Stanley, Cowen, Citigroup, Stifel and BTIG. The price is a 2% discount to Loxo’s close of $73.65 on June 13, before the offering was announced. Loxo lost $1.41 to $73.35 on Thursday.

On June 5, Loxo gained 43% after it reported data showing that larotrectinib (LOXO-101) led to an objective response rate (ORR) of 76% in patients with neurotrophic tyrosine kinase (NTRK) fusions. The data were presented at the American Society of Clinical Oncology meeting in Chicago (see BioCentury Extra, June 5)...