Avid Bioservices Inc (CDMO)

[north40000]

BGNE: Like PRF, BGNE also accessed financing, even larger[$750 million] to enter immunotherapy...Recall the UTSW connections of its CEO.

https://ih.advfn.com/p.php?pid=nmona&article=76496634

BeiGene, Ltd. (NASDAQ:BGNE), a commercial-stage biopharmaceutical company focused on developing and commercializing innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer, today announced the pricing of its follow-on public offering of 7,425,750 American Depositary Shares (ADSs), each representing 13 of its ordinary shares, par value $0.0001 per share, at a price to the public of $101.00 per ADS. The gross proceeds to BeiGene from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $750 million. In addition, BeiGene has granted the underwriters a 30-day option to purchase up to an additional 495,050 ADSs at the public offering price, less underwriting discounts and commissions. The offering is expected to close on January 22, 2018, subject to customary closing conditions.
BeiGene intends to use proceeds from the offering for working capital and general corporate purposes, including research and development activities......

BeiGene is a global, commercial-stage, research-based biotechnology company focused on molecularly targeted and immuno-oncology cancer therapeutics. With a team of over 850 employees in China, the United States, and Australia, BeiGene is advancing a pipeline consisting of novel oral small molecules and monoclonal antibodies for cancer. BeiGene is also working to create combination solutions aimed to have both a meaningful and lasting impact on cancer patients. BeiGene markets ABRAXANE® (nanoparticle albumin–bound paclitaxel), REVLIMID® (lenalidomide), and VIDAZA® (azacitidine) in China under a license from Celgene Corporation.1

Goldman Sachs & Co. LLC, Morgan Stanley, Cowen, and Leerink Partners are acting as joint book-running managers. William Blair & Company, L.L.C. is acting as the co-manager.