Madrigal’s $600M offering; PureTech to return $100M to shareholders

Plus, news about Out­look Ther­a­peu­tics, Geron, Fate Ther­a­peu­tics, En­liv­en Ther­a­peu­tics, See­los and Por­tal Biotech­nolo­gies:

Madri­gal Phar­ma­ceu­ti­cals’s $600M of­fer­ing: The com­pa­ny is rais­ing mon­ey to boost the launch of its land­mark NASH drug Rezd­if­fra. It priced 750,000 shares at $260 apiece, with a goal to bring in $600 mil­lion. That’s $100 mil­lion more than the com­pa­ny ini­tial­ly pen­ciled in when it an­nounced the pro­posed of­fer­ing on Mon­day. Rezd­if­fra, al­so known as resme­tirom, is the first ap­proved drug for NASH, a liv­er dis­ease now of­ten re­ferred to as meta­bol­ic dys­func­tion-as­so­ci­at­ed steato­hep­ati­tis. — Nicole De­Feud­is

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.