Replies to post #198786 on Biotech Values

[DewDiligence]

Possibly the most cumulative money ever sought by small and midsized biotech companies on a single day.

[masterlongevity]

financing transactions. Thats a lot of money!

[DewDiligence]

XLRN sells 4.31M* shares @$40.00—essentially no discount to yesterday’s close:

http://finance.yahoo.com/news/acceleron-announces-pricing-public-offering-003500480.html

*Assuming exercise of underwriter’s option.

[DewDiligence]

OTIC sells 5.75M* shares @$20.00—an 18% discount to yesterday’s closing price:

http://finance.yahoo.com/news/otonomy-announces-pricing-public-offering-003956614.html

*Assuming exercise of underwriter’s option.

[DewDiligence]

EPZM (-20%/PM)—sells 15.33M* shares @$9.00—a whopping 40% discount to Tuesday’s closing price:

http://finance.yahoo.com/news/epizyme-announces-pricing-public-offering-042400366.html

*Assuming exercise of underwriter’s option.

[DewDiligence]

ADMS sells 2.875M* shares @$23.00—an 18% discount to Monday’s closing price:

http://finance.yahoo.com/news/adamas-announces-pricing-public-offering-030821620.html

*Assuming exercise of underwriter’s option.

[DewDiligence]

ACAD sells 11.90M* shares @$29.00—a 16% discount to Tuesday’s closing price:

http://finance.yahoo.com/news/acadia-pharmaceuticals-prices-public-offering-023500763.html

*Assuming exercise of underwriter’s option.

[DewDiligence]

The array of biotech offerings announced Tuesday was a record of sorts:

http://www.wsj.com/articles/overheard-1452139732

Biotech stocks notched a record on Tuesday—just not the kind that investors necessarily wanted to witness. Eight biotech companies announced plans to issue shares via secondary offerings. This marked a new single-day record for deals even if not for total dollars sought, according to Dealogic. Combined, the companies are set to raise proceeds of nearly $1.2 billion

…investor reaction to the spate of deals was sharply negative: All eight companies traded lower early Wednesday [before the discounted offering prices were even announced]…

[biocqr]

SAGE > $150M offering priced @ 47.50 a 4% discount to yesterday's close...

Sage Therapeutics Announces Pricing of Public Offering of Common Stock
http://finance.yahoo.com/news/sage-therapeutics-announces-pricing-public-023715467.html

CAMBRIDGE, Mass., Jan. 06, 2016 (GLOBE NEWSWIRE) -- Sage Therapeutics, Inc. (SAGE), a clinical-stage biopharmaceutical company committed to developing novel medicines to transform the lives of patients with life-altering central nervous system (CNS) disorders, today announced the pricing of an underwritten public offering of 3,157,894 shares of its common stock at a public offering price of $47.50 per share, before underwriting discounts. In addition, SAGE has granted the underwriters a 30-day option to purchase up to an additional 473,684 shares of its common stock.

[DewDiligence]

CEMP sells 4.79M* shares @$24.00—a 16% discount to Tuesday’s closing price:

http://finance.yahoo.com/news/cempra-prices-public-offering-common-014313865.html

*Assuming exercise of underwriter’s option.

[DewDiligence]

TXMD sells 17.42M* shares @$8.25—an 11% discount to Tuesday’s closing price:

http://finance.yahoo.com/news/therapeuticsmd-announces-pricing-125-million-114500888.html

The share price is up 5% today because an 11% discount in this market environment is pretty good.

*Assuming exercise of underwriter’s option.

[DewDiligence]

PRTA sells 2.59M* shares @$53.00—a 10% discount to Tuesday’s closing price:

http://finance.yahoo.com/news/prothena-announces-pricing-public-offering-130201019.html

The share price is up 3% today because a 10% discount is quite good in this environment.

*Assuming exercise of underwriter’s option.