Melinta closes $123.2M follow-on

Anti-infectives company Melinta Therapeutics Inc. (NASDAQ:MLNT) raised $123.2 million through the sale of 24.6 million shares at $5 in a follow-on underwritten by J.P. Morgan, Jefferies and Cantor Fitzgerald. The figures include the sale of a 2.6 million share overallotment on May 29. The price is a 32% discount to Melinta's closing price of $7.30 on May 21, when the company proposed after market hours to raise $75 million.

In February, the company launched Baxdela delafloxacin to treat acute bacterial skin and skin structure infections (ABSSSIs). FDA approved the broad-spectrum fluoroquinolone antibiotic last year...