Acceleron raises $150M in follow-on

Acceleron Pharma Inc. (NASDAQ:XLRN) raised $150 million through the sale of 3.8 million shares at $40 in a follow-on underwritten by Morgan Stanley, Leerink, UBS, JMP Securities and FBR. The company proposed the offering Monday after market close, when its shares were valued at $44.86. It priced the offering after market close on Tuesday, and shed $3.12 to $37.10 on Wednesday.

Celgene Corp. (NASDAQ:CELG) purchased 800,000 shares for $32 million in the offering. In December, Celgene began two Phase III studies of Acceleron's lead program luspatercept ( ACE-536) to treat myelodysplastic syndromes (MDS) and beta-thalassemia. In 2011, the companies partnered to develop and commercialize luspatercept, a modified activin receptor type 2B ( ACVR2B) fusion protein that inhibits several ligands in the transforming growth factor (TGF) beta superfamily. ...