Fol­low­ing the re­cent play­book, Cin­Cor rais­es $225M on back of pos­i­tive PhII read­out

On Mon­day, Cin­Cor Phar­ma drummed up pos­i­tive Phase II da­ta for its hy­per­ten­sion drug bax­dro­stat, fol­low­ing it lat­er that day with a pub­lic of­fer­ing — as many oth­er pub­lic biotechs with pos­i­tive read­outs have done with as­tound­ing fre­quen­cy in the luke­warm mar­ket con­di­tions.

The size of that raise? $225 mil­lion, Cin­Cor said to­day in a press re­lease. The biotech had orig­i­nal­ly pro­posed its pub­lic of­fer­ing at six mil­lion shares, but said it was up­sized to 7.5 mil­lion.

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