Follow-on roundup: Synageva, Five Prime, Cerus
Shares of Synageva BioPharma Corp. (NASDAQ:GEVA), Five Prime Therapeutics Inc. (NASDAQ:FPRX) and Cerus Corp. (NASDAQ:CERS) all rose on Wednesday after the companies raised a total of $427.6 million in follow-ons.
Rare disease play Synageva raised $282.6 million through the sale of 3 million shares at $94.19 in a bumped up follow-on underwritten by Goldman Sachs; JPMorgan; Cowen; Baird; Nomura Securities; and SunTrust Robinson Humphrey. Synageva raised $211 million in a follow-on in March 2014. It has submitted a BLA to FDA for Kanuma sebelipase alfa, a recombinant human lysosomal acid lipase (LAL) enzyme replacement therapy to treat LAL deficiency. An MAA for the ERT is under EMA accelerated assessment. The company plans to begin a Phase I/II trial of SBC-103, recombinant human N-acetylglucosaminidase alpha ( NAGLU) to treat mucopolysaccharidosis IIIB (MPS IIIB, Sanfilippo B syndrome), with preliminary data expected this year. Synageva gained $9.83 (10%) to $104.02 on Wednesday. The company proposed to sell 2.5 million shares after market close on Monday, when its share price was $100.48. ...