Finance Watch: In Obesity, Vivus Raises Cash For Deals, Orexigen Finds A Buyer
Public Company Edition: Strategies diverge in obesity as Vivus restructures debt and raises cash for a new deal and new focus, after Orexigen nears a sale of the company via bankruptcy court. Also, Clovis leads recent offerings, while layoffs are on the table at Catabasis.
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The cancer drug developer raised $55m. Also, Lyra raised $56m in the last of four biopharma IPOs in April, Biogen sold $3bn worth of debt, Oberland raised a $1.05bn fund and Praxis launched with more than $100m.
Finance Watch: Panic Over FDA Commissioner's Resignation Was Short-Lived, Though IPOs Still Languish
Public Company Edition: Biotech stocks sank when US FDA Commissioner Scott Gottlieb announced his departure, but have nearly recovered to pre-resignation levels, except for newly public firms. Also, Biohaven's raises cash for PRV purchase and Endo issues $1.5bn in new debt.
Public Company Edition: Grossing $276m, Gossamer would have been the third-largest biopharma IPO in the US if it had launched last year. Also, recent public company financings include debt and follow-on offerings; and two more firms cut jobs – Capricor and Seres.