Eiger raises $18.5M in follow-on

Orphan disease company Eiger BioPharmaceuticals Inc. (NASDAQ:EIGR) raised $18.5 million through the sale of 1.9 million shares at $10 in a follow-on underwritten by BTIG. The price is a 7% discount to the company’s close of $10.80 on Thursday, when the offering was announced after market hours.

The company's Sarasar lonafarnib is in Phase II testing to treat HDV infection. The farnesyl transferase inhibitor has Orphan Drug designation from FDA for the indication. ...