Public financing roundup: Kadmon, TherapeuticsMD, GTx, Newron

On Sept. 26, several biotechs announced public financing, including follow-ons from Kadmon Holdings Inc. (NYSE:KDMN) and TherapeuticsMD Inc. (NYSE-M:TXMD).

Kadmon raised $80 million through the sale of 26.8 million shares at $3 in a bumped-up follow-on and a registered direct offering. The follow-on was underwritten by Jefferies, Piper Jaffray and H.C. Wainwright. The price is a 21% discount to its close of $3.79 on Sept. 25, when it announced the offerings after trading hours. Investors also received five-year warrants to purchase 9.6 million shares at $3.35. The figures include the 5.5 million shares sold in the direct offering as well as a 2.8 million share overallotment on Sept. 28...