Clovis, AveXis, Sangamo price follow-ons
Cancer company Clovis Oncology Inc. (NASDAQ:CLVS) and gene therapy developers AveXis Inc. (NASDAQ:AVXS) and Sangamo Therapeutics Inc. (NASDAQ:SGMO) each priced follow-on offerings, raising a total of more than $622 million.
Clovis raised $300 million through the sale of 3.4 million shares at $88 in an upsized follow-on underwritten by JPMorgan, BofA Merrill Lynch, Stifel and SunTrust. The price was $0.12 higher than Clovis' close of $87.88 on Monday, when it proposed after market hours to raise $250 million. The company gained $5.61 to $94.29 on Wednesday. On Monday, Clovis gained 47% after it said PARP inhibitor Rubraca rucaparib met the primary endpoint in the Phase III ARIEL3 trial as maintenance therapy to treat platinum-sensitive ovarian cancer (see BioCentury Extra, June 19)...