BioCentury
ARTICLE | Finance

Ebb & Flow

April 13, 2009 7:00 AM UTC

In its $31 million financing this month, Savient Pharmaceuticals Inc. (NASDAQ:SVNT) employed a novel warrant structure that allowed it to finance ahead of a significant binary event without having to provide an upfront premium based on a worst-case outcome. At the same time, investors still will garner a significant warrant discount if the news is bad.

Savient is facing a July 30 PDUFA date for its Krystexxa pegloticase for treatment failure gout...