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4 More Biotech Secondaries Investors Are Watching

January 7, 2015 12:50 pm
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4 More Biotech Secondaries Investors Are Watching

After Wednesday's close, four more biotech companies will price their secondary offerings. In 2014, all four of these companies saw tremendous growth.


Avalanche Biotechnologies Inc (NASDAQ: AAVL) is offering 2 million shares. The underwriters are Jeffries, Cowen and Company, Piper Jaffray, and William Blair. Avalanche's product furthest along in development is AVA-101 for Wet AMD. The company is expecting to announce Phase 2a data in middle 2015.


Alder Biopharmaceuticals Inc (NASDAQ: ALDR) is offering 4 million shares. The underwriters are Credit Suisse, Leerink Partners, Wells Fargo, and Sanford C. Bernstein. The deal was originally supposed to price Thursday night, but it has been accelerated to Wednesday night. The company is expecting to complete their Phase 2b trial of Clazakizumab for Rheumatoid arthritis in the first half of 2015. They are also expecting to announce Phase 2b data of ALD403 for Migraines in the second half of 2015.

Cempra Inc (NASDAQ: CEMP) is offering 4.07 million shares. The underwriters are Morgan Stanley and Cowen and Company. On January 5, Cempra reported positive Phase 3 results for Oral Solithromycin in the treatment of community acquired bacterial pneumonia. Robert W. Baird gave Cempra a $32 price target and Cowen gave the company a $35 price target.

OvaScience Inc (NASDAQ: OVAS) is offering 1.8 million shares. The underwriters are J.P. Morgan and Credit Suisse. OvaScience's Augment treatment is available in four international regions and their OvaPrime treatment is to be introduced into select clinics by the end of 2015.

Yesterday, five companies announced pricing of their offerings. Cerus Corporation (NASDAQ: CERS) priced at $5.50, Synageva Biopharma Corp (NASDAQ: GEVA) priced at $94.19, Karyopharm Therapeutics Inc (NASDAQ: KPTI) priced at $33, and Five Prime Therapeutics Inc (NASDAQ: FPRX) priced at $22.


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