Nu­va­lent nets $200M pub­lic of­fer­ing in wake of pos­i­tive PhI da­ta, paving way for fu­ture tri­als

Af­ter tout­ing some da­ta late last week, Nu­va­lent is at­tempt­ing to cap­i­tal­ize on the mo­men­tum.

The Boston-area biotech an­nounced Mon­day morn­ing it would put to­geth­er a $200 mil­lion pub­lic of­fer­ing a few days af­ter its stock $NU­VL jumped more than 60% on Phase I da­ta. Nu­va­lent is at­tempt­ing to chal­lenge Big Phar­ma ri­vals — specif­i­cal­ly, Pfiz­er’s Xalko­ri and Roche’s Ro­z­lytrek — and Mon­day’s of­fer­ing sig­nals it’s gear­ing up for the next steps.

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