MyoKardia prices follow-on as stock momentum continues

MyoKardia Inc. (NASDAQ:MYOK) crept up $0.55 to $36.75 on Wednesday after it raised $124.3 million through the sale of 3.5 million shares at $35.50 in a follow-on underwritten by JPMorgan, Cowen, BMO Capital Markets and Wedbush.

MyoKardia proposed the offering after trading hours on Monday, when the stock closed up $14.30 (83%) to $31.45 after the company reported that mavacamten met the primary endpoint in the first cohort of the Phase II PIONEER-HCM trial to treat symptomatic, obstructive hypertrophic cardiomyopathy (HCM). By year end, MyoKardia plans to start the pivotal EXPLORER-HCM trial of mavacamten (see BioCentury Extra, Aug. 7)...