Finance Watch: Karuna, Cerevel And Others Benefit From Improving Biotech Sentiment
Follow-On Offerings Follow Positive Data Readouts
Good news in the biopharma industry and the US economy gave public drug developers the boost they needed to raise cash, including Karuna’s $750m offering. Private company financings slowed during the second week of August, but Prellis and Vector BioPharma raised venture capital.
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The UK major is acquiring CinCor in a deal that could be worth up to $1.8bn, in return getting hold of its Phase II hypertension candidate, baxdrostat, which offers combination potential with Farxiga.