Immunovant's $450M; Oncopeptides reassesses Pepaxti strategy in Europe; Akebia resubmits kidney drug
Immunovant goes for $450M: Immunovant’s early-stage autoimmune data will lead to a $450 million haul for the New York biotech, about $150 million more than initially announced on Tuesday. Immunovant said Wednesday it plans to sell 7.37 million shares $IMVT at $38 apiece in a public offering and sell another 4.47 million to its parent, Roivant Sciences. The early clinical data for Immunovant’s anti-FcRn IMVT-1402 sent the company’s shares soaring on Tuesday and also boosted Roivant’s stock price. — Kyle LaHucik
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