No­var­tis chips in $10M for IPO-bound part­ner Pli­ant; Tenax shares soar on heart drug da­ta

→ No­var­tis is com­ing in with $10 mil­lion to help sup­port the loom­ing IPO of a part­ner. Pli­ant Ther­a­peu­tics post­ed a new fil­ing with the SEC show­ing that No­var­tis is buy­ing the shares at $15, the mid-point of the range. It’s adding sev­er­al mil­lion shares to the of­fer­ing, bring­ing the to­tal to around $135 mil­lion. Biotech com­pa­nies have been en­joy­ing quite a run on vir­tu­al Wall Street, with in­vestors boost­ing new of­fer­ings to some big hauls.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER