4:54 PM
 | 
Nov 08, 2018
 |  BC Extra  |  Financial News

Sarepta collects half a billion in follow-on

Sarepta Therapeutics Inc. (NASDAQ:SRPT) raised $500 million late Thursday through the sale of 3.8 million shares at $131. The price is a 9% discount to Sarepta's close of $144.06 on Wednesday, when it proposed the offering after hours.

The financing comes on the heels of multiple deals by Sarepta to build out its gene therapy pipeline, including partnerships with Lysogene S.A. (Euronext:LYS) and Lacerta Therapeutics Inc. (Alachua, Fla.) (see "Sarepta Bolsters Gene Therapy Pipeline Through Deal with Lacerta").

Underwriters for the follow-on were Goldman Sachs, J.P. Morgan, Credit Suisse, Cowen, William Blair, Robert W. Baird, Nomura, Cantor Fitzgerald and H.C. Wainwright.

Sarepta fell $11.06 to $133 on Thursday.

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