Ignyta raises $76.9M in follow-on

Ignyta Inc. (NASDAQ: RXDX) raised $76.9 million through the sale of 12.5 million shares at $6.15 in a follow-on underwritten by JPMorgan, Piper Jaffray and Ladenburg Thalmann. The price was a 17% discount to the company's closing of $7.40 on Tuesday, when it proposed the offering after market hours. Ignyta lost $1.25 to $6.15 on Wednesday, then regained $1 to $7.15 on Thursday.

Last week, the company reported interim data from the ongoing, pivotal Phase II STARTRK-2 basket study of entrectinib (RXDX-101). Ignyta hopes to submit two separate NDAs to FDA in 2018 for the therapy, including one for tyrosine kinase receptor (TRK) fusion-positive cancers regardless of tissue. The other would be for c-ros proto-oncogene 1 receptor tyrosine kinase (ROS1) fusion-positive non-small cell lung cancer (NSCLC) (see BioCentury Extra, April 27)...