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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