InterMune, Zogenix planning follow-ons

Pulmonary company InterMune Inc. (NASDAQ:ITMN) and pain company Zogenix Inc. (NASDAQ:ZGNX) proposed follow-ons on Monday. InterMune plans to sell 6.5 million shares in a follow-on underwritten by Goldman Sachs and JPMorgan. If sold at InterMune's close of $14.95 on Monday, the company would raise $97.2 million. InterMune markets Esbriet pirfenidone in Canada and Europe to treat idiopathic pulmonary fibrosis (IPF). The drug is in Phase III testing to support U.S. approval.

Zogenix plans to raise $60 million in a follow-on underwritten by Stifel; Leerink; Wells Fargo; Oppenheimer; and William Blair. Late last month, FDA approved Zogenix's Zohydro ER hydrocodone bitartrate to manage chronic pain, with a U.S. launch expected in about four months (see BioCentury Extra, Oct. 25). ...