Loxo raising $227M in post-ASCO score; Bavarian Nordic reports data delay; Sonar and Stratus ordered to cease production
→ Loxo shared some impressive data at ASCO, and the biotech isn’t about to let that pass without raising more cash. The company announced a public offering of 3,150,000 shares of common stock at of $72.00 per share. They’re expecting $226.8 million in proceeds when they close on June 20.
→ Bavarian Nordic has announced a delay in reporting data from its PROSPECT study, a Phase III trial to test the efficacy of PROSTVAC on the survival of men with metastatic castration-resistant prostate cancer. The company says the delay is due to a decrease in average monthly events in the study. Results are still expected this year.
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