AveXis details SMA gene therapy plans, proposes follow-on
AveXis Inc. (NASDAQ:AVXS) detailed plans Tuesday to expand its clinical development program for spinal muscular atrophy gene therapy candidate AVXS-101 via four additional clinical trials. The company also proposed to raise $400 million in a follow-on underwritten by Goldman Sachs, Jefferies, BofA Merrill Lynch and BMO Capital Markets. AveXis fell $12.49 (11%) to $105.01 on Tuesday.
AVXS-101 is already in the U.S. pivotal Phase III STR1VE trial to treat SMA type 1 in patients less than six months of age. STR1VE is evaluating a single IV infusion of AVXS-101. The four new trials expand the candidate's development into additional territories and SMA subpopulations. Tuesday's AVXS-101 update is one of several AveXis has announced over the past month...