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.”