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ARTICLE | Financial News

Ra raises $130M on heels of Phase II myasthenia gravis readout

December 12, 2018 6:41 PM UTC

Ra Pharmaceuticals Inc. (NASDAQ:RARX) raised $130 million late Tuesday through the sale of 8.4 million shares at $15.50 in a bumped-up follow-on one day after reporting that its complement C5 (C5) inhibitor met the primary and key secondary endpoints in a Phase II trial to treat generalized myasthenia gravis. The price is a 12% discount to Ra's close of $17.62 on Monday, when it proposed to raise $100 million in the offering after hours.

Ra was up $1.15 to $17.06 on Wednesday. The biotech touched a 52-week high of $19.80 in intraday trading Monday before closing up $1.16 to $17.62...

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Complement 5 (C5)