Newron raises CHF26.1M in private placement

Newron Pharmaceuticals S.p.A. (SIX:NWRN) raised CHF26.1 million ($26.8 million) through the sale of 1.3 million shares at CHF19.75 in a private placement with institutional investors. The company proposed the offering on Thursday, when it closed at CHF23.50. Newron slipped CHF2.20 to CHF21.30 on Friday.

Newron expects a decision in 1Q17 from FDA on its review of an NDA for Parkinson's disease drug Xadago safinamide. The company's partner Zambon Co. S.p.A. (Bresso, Italy) markets Xadago in Europe. Newron also expects data next year from the Phase II/III STARS study of sarizotan to treat respiratory symptoms in patients with Rett syndrome. ...