BioCentury
ARTICLE | Financial News

Madrigal, Deciphera raise money after readouts

June 8, 2018 3:07 PM UTC

Madrigal Pharmaceuticals Inc. (NASDAQ:MDGL) and Deciphera Pharmaceuticals Inc. (NASDAQ:DCPH) each priced upsized offerings. Each company's stock had risen sharply after auspicious data readouts.

Madrigal raised $300 million through the sale of 983,607 shares at $305 in a follow-on underwritten by Goldman Sachs, Cowen, JMP Securities, Roth Capital Partners and H.C. Wainwright. The price is a 1% premium to Madrigal's closing price of $301.03 on June 5, when it proposed after market hours to raise $200 million...