Viking leads a $46M raise for a struggling aTyr Pharma
With its share price in a swoon, San Diego-based aTyr Pharma $LIFE has inked a $46 million equity deal to fund its development work. Viking Global Investors led the raise with participation from EcoR1 Capital and Redmile Group. The group bought shares at $2.64.
Shares came close to $23 each in the spring of 2015, after the biotech went public at $14 a share. But the glory days didn’t last long, with the stock falling steadily. The biotech’s market cap started at $333 million; it’s now down to $63 million.
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