BioCentury
ARTICLE | Financial News

Aratana raises $95 million in follow-on

January 30, 2014 2:18 AM UTC

Veterinary company Aratana Therapeutics Inc. (NASDAQ:PETX) raised $95 million through the sale of 5 million shares at $19 in a bumped-up follow-on underwritten by Jefferies; Barclays Capital; William Blair; JMP Securities; and Craig-Hallum Capital Group. Aratana shareholders received $28.5 million through the sale of 1.5 million shares at $19 in a concurrent secondary offering. Aratana proposed to sell 4.5 million shares in the offering last week, when its share price was $18.88. Shareholders were planning to sell 1 million shares.

Earlier this week, the U.S. Department of Agriculture (USDA) granted conditional approval for Aratana's AT-005, a canine-specific mAb against CD52, to treat T cell lymphoma in dogs. Aratana already has conditional approval for AT-004 for B cell lymphoma. The canine-specific mAb against CD20 is licensed to the Novartis Animal Health Inc. unit of Novartis AG (NYSE:NVS; SIX:NOVN). ...