Applied Genetic raises $30 million in follow-on

Rare ophthalmic disease company Applied Genetic Technologies Corp. (NASDAQ:AGTC) raised $30 million through the sale of 2 million shares at $15 in a follow-on underwritten by BMO Capital Markets; Stifel; Wedbush PacGrow; Cantor Fitzgerald; and Roth Capital Partners. Applied Genetic proposed the follow-on July 11, when its share price was $19.07.

Applied Genetic is developing gene therapies using viral vectors to deliver genes to patients with severe inherited Orphan diseases in ophthalmology. The company's most advanced lead compound is slated to enter a Phase I/II trial to treat X-linked retinoschisis (XLRS), with data expected in mid-2015. XLRS is caused by mutations in the retinoschisis X-linked juvenile 1 ( RS1; XLRS1) gene. ...