Neurocrine raises $250M in follow-on

Neurocrine Biosciences Inc. (NASDAQ:NBIX) raised $250 million through the sale of 6.9 million shares at $36 in a follow-on underwritten by JPMorgan; Deutsche Bank; Jefferies; Barclays; Cowen; and Nomura.

Last month, Neurocrine's partner AbbVie Inc. (NYSE:ABBV) said elagolix ( ABT-620) met the co-primary endpoints of a Phase III trial to treat endometriosis. AbbVie has exclusive, worldwide rights to the non-peptide small molecule gonadotropin-releasing hormone (GnRH) antagonist under a 2010 deal (see BioCentury Extra, Jan. 8). ...