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Portola to raise $100m for final Factor Xa inhibitor antidote push

This article was originally published in Scrip

Executive Summary

Portola Pharmaceuticals has priced its public offering of just under 2.5 million shares at $40.00 each, with a 30-day option for an additional 374,348 shares at the same price. The offering is expected to close on 13 March. Earlier this month, Portola reported positive full data of its Phase III ANNEXA-R study which evaluated its Factor Xa inhibitor antidote andexanet alfa with Factor Xa inhibitor Xarelto (rivaroxaban). Portola plans to submit the data as part of BLA to the US FDA by the end of this year. Portola, based in South San Francisco, followed the initial data from the study with an offering of 6.2m shares priced at $26 each for gross proceeds of $161.2m last year.

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