4 Biotech Secondary Offerings Traders Are Watching
On Monday after the close, several biotechnology companies announced secondary offerings.
Many of these companies have announced positive news in the last few months. On Tuesday night, four companies are expected to price those offerings.
Karyopharm Therapeutics Inc (NASDAQ: KPTI) is offering 2,950,000 shares of common stock and "Selling Shareholders" are offering 50,000 shares.
The underwriters are Bank of America, J.P. Morgan, JMP Securities, Leerink Partners, Wedbush and MLV. On Monday, the company received an Orphan Designation from the FDA for its drug selinexor. The company also presented a positive clinical data update at the 2014 Ash Annual meeting.
Cerus Corporation (NASDAQ: CERS), meanwhile, is offering an undisclosed number of shares.
The underwriters are Cowen and Company, Baird, Wedbush, Stephens, BTIG and MLV. In December, Cerus received FDA approval for its INTERCEPT blood system for plasma. On Monday, the company reported that a Phase 3 trial in the EU for INTERCEPT red blood cells met primary endpoints.
Five Prime Therapeutics Inc (NASDAQ: FPRX) is offering $75 million worth of stock. The underwriters are Citigroup, Leerink Partners, Wells Fargo, Guggenheim Securities and Oppenheimer. In November, the company announced a partnership with Bristol-Myers Squibb.
Synageva Biopharma Corp (NASDAQ: GEVA) is offering 2.5 million shares. The underwriters are Goldman Sachs and J.P. Morgan. In November, the company presented new data from its Phase 3 study of Sebelipase Alfa in children and adults with LAL deficiency.
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