Biopharmaceutical companies celebrated recent positive data readouts with a slew of significant follow-on public offerings (FOPOs), including Nuvalent, Inc., which grossed $500m on 16 September from the sale of 5 million shares at $100 each after reporting data for two drug candidates in non-small cell lung cancer (NSCLC) at the European Society for Medical Oncology (ESMO) meeting two days earlier.
Finance Watch: Follow-Ons Bring In Big Post-Data Cash For Nuvalent And Others
Athira, Cidara, Oncternal And Connect Cut Jobs
Public Company Edition: Follow-on public offerings brought in $500m for Nuvalent, $235m for Summit and $225m each for Centessa and Viridian after recent readouts. Also, Kairos raised $6.2m in this year’s 19th IPO, Bayer sold €750m ($834m) in bonds and an Ionis FOPO grossed $500.3m.
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