With new data in hand, Axovant raises $40M

Days after revealing the first clinical data from its gene therapy pipeline, Axovant raised $40 million through the sale of 26.7 million shares at $1.50 in a follow-on offering.

Axovant Sciences Ltd. (NASDAQ:AXGT) proposed the offering after market hours Wednesday, when its shares closed at $1.75. The price represents a 14% discount to that figure; Axovant slipped $0.33 (19%) to $1.42 on Thursday...