Nabriva raises $80M in follow-on

Nabriva Therapeutics plc (NASDAQ:NBRV) raised $80 million through the sale of 9.4 million shares at $8.50 in a follow-on underwritten by Morgan Stanley, BofA Merrill Lynch, SunTrust Robinson Humphrey, Needham and Wedbush. The price is a 4% discount to Nabriva's close of $8.87 on Monday when it proposed the offering after market hours.

On Monday, Nabriva gained 29% after reporting that IV-to-oral lefamulin (BC-3781) met the primary endpoints in the Phase III LEAP 1 trial to treat moderate to severe community-acquired bacterial pneumonia (CABP). Top-line data from the Phase III LEAP 2 trial evaluating oral lefamulin to treat CABP are expected next spring, with an NDA submission to FDA to follow in 2H18. Lefamulin is a semi-synthetic derivative of the antibiotic pleuromutilin that binds the peptidyl transferase center on the ribosome (see BioCentury Extra, Sept. 18)...