Nov. 8 Financial Quick Takes: First day of trading for BrightGene, Tot; plus argenx, Agios and AiCure

BrightGene shines in STAR debut
BrightGene Bio-Medical Technology Co. Ltd. (Shanghai:688166) gained RMB17.90 (141%) to RMB30.61 in its first day of trading on Shanghai’s STAR board. The company raised RMB521.1 million ($74.1 million) in an IPO last month that valued the company at RMB5.2 billion; it had planned to raise RMB360 million in its offering. BrightGene’s pipeline includes oral GLP1R agonist peptides for Type II diabetes, immuno-oncology agents, antibody-drug conjugates for solid tumors and other tumor-targeting drug conjugates for brain cancer.

Tot Biopharm Co. Ltd. (HKSE:1875) ended its first day on the Hong Kong stock exchange's biotech chapter down HK$0.29 to HK$6.26, shaving HK$165.3 million ($21.1 million) off the cancer company’s market cap and valuing it at HK$3.6 billion.

argenx raises more than $550M in global offering
Antibody company argenx S.E. (Euronext: ARGX; NASDAQ:ARGX) completed a global offering that included the sale of ADSs and a private placement of ordinary shares, raising more than $550 million combined. After an initial sale of 1.4 million ADSs at $121 this week, the offering's underwriters exercised an option to buy another 600,000 shares for a total sale of $243.2 million. In the private placement, argenx sold 2.6 million shares at €109.18 to raise €282.8 million ($315.7 million). On Wednesday, argenx proposed to raise $450 million.

Agios raises $256M in follow-on
Agios Pharmaceuticals Inc. (NASDAQ:AGIO) raised $255.8 million in an upsized follow-on late Thursday through the sale of 8.3 million shares at $31, an 8% discount to its Wednesday close, when it proposed after market hours to sell up to 7.5 million shares.

AiCure raises $25M C round
AiCure raised $24.5 million in a series C round led by Palisades Growth Capital, bringing the total venture money raised by the data analytics company to nearly $52 million. New investors Singtel Innov8, Asahi Kasei Corp., Accelmed Growth Partners and SpringRock Ventures and all existing institutional investors, including Baird Capital, New Leaf Venture Partners, the Pritzker Group, Biomatics Capital, Tribeca Venture Partners and Silicon Valley Bank participated in the round. AiCure’s AI platform analyzes audio, video and behavioral patient data to monitor patient engagement and treatment response.

Targets: GLP-1R (GLP1R) - Glucagon-like peptide-1 receptor

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