Repros, Exact Sciences planning follow-ons
Repros Therapeutics Inc. (NASDAQ:RPRX) and Exact Sciences Corp. (NASDAQ:EXAS) both announced plans late Monday to raise money in follow-ons. Repros proposed to sell up to 3 million shares in a follow-on underwritten by BofA Merrill Lynch; Lazard; Ladenburg; and Ascendiant Capital Markets. If sold at Repros' close of $17.93 on Monday, the company would raise $53.8 million. Repros' Androxal enclomiphene, a trans-isomer of clomiphene citrate, is in Phase III testing to treat secondary hypogonadism, with an NDA submission slated for mid-2014.
Separately, Exact Sciences proposed a follow-on underwritten by Jefferies and Baird. Last week, Exact Sciences said it submitted the final module of a PMA to FDA for Cologuard as a colorectal cancer screening test. Cologuard is a non-invasive stool DNA test that uses a multiplexed quantitative Invader assay for the simultaneous detection of methylated and unmethylated sequences in the promoter region of the vimentin (VIM) gene (see BioCentury Extra, June 10). ...