Bridge­Bio to raise $150M; FDA ac­cepts Ion­is' an­ti­sense drug NDA

Af­ter Bridge­Bio pub­licly dis­closed a Phase II win Mon­day morn­ing, it’s now want­i­ng $150 mil­lion.

The biotech said Mon­day af­ter­noon that it start­ed an un­der­writ­ten pub­lic of­fer­ing for $150 mil­lion worth of shares, al­low­ing un­der­writ­ers to buy an ad­di­tion­al $22.5 mil­lion in shares.

An SEC fil­ing from the biotech says the funds are in­tend­ed to push for­ward clin­i­cal and pre­clin­i­cal de­vel­op­ment — help­ing to pay for re­search ac­tiv­i­ties and work­ing cap­i­tal. The fil­ing al­so says Bridge­Bio “may al­so use a por­tion of the net pro­ceeds to in­vest in or ac­quire busi­ness­es or tech­nolo­gies that we be­lieve are com­ple­men­tary to our own.”

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