AcelRx, TG raise $79.3 million in follow-ons

AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) and TG Therapeutics Inc. (NASDAQ:TGTX) raised a combined $79.3 million in follow-ons on Thursday. AcelRx raised $44.3 million through the sale of 3.8 million shares at $11.65. Jefferies; Piper Jaffray; and Guggenheim Securities are underwriters. AcelRx proposed the offering late Wednesday, when its share price was $11.92. AcelRx's Zalviso (formerly Sufentanil NanoTab PCA System) is in Phase III testing to treat moderate to severe pain in a hospital setting, with an NDA submission to FDA expected this quarter. The product is a pre-programmed, handheld device that delivers a sublingual formulation of sufentanil, a synthetic opioid analgesic.

TG Therapeutics raised $35.1 million through the sale of 5.7 million shares at $6.15 in its follow-on, which was underwritten by Roth Capital Partners; Ladenburg Thalmann; Brean Capital; and National Securities. TG Therapeutics proposed the offering late Wednesday, when its share price was $6.87. The company's ublituximab (TG-1101) is in Phase I/II testing to treat B cell lymphoid malignancies, non-Hodgkin's lymphoma (NHL) and chronic lymphocytic leukemia (CLL). The compound is a chimeric mAb against CD20. ...