AveXis wants $400M more for promising SMA gene therapy; ShangPharma partners with Icahn School of Medicine at Mount Sinai
→ AveXis $AVXS is raising more cash to fuel its gene therapy for spinal muscular atrophy with a public offering of up to $400 million of shares at $117.5 per share. The plan, laid out in an SEC filing, is to allocate $225 to $270 million to research, manufacturing, clinical and regulatory activities — mainly in SMA, but also for programs in Rett syndrome and ALS. Around $140 million to $175 million will go to pre-commercial activities for the potential launch of SMA blockbuster contender AVXS-101, including medical affairs, commercial initiatives and licensing activities. The Chicago-based biotech is coming on strong in the SMA field, threatening to cut into Biogen’s Spinraza franchise.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.