Plus, news about Healis Therapeutics, NRx Pharmaceuticals, and Nuvalent:
Denali Therapeutics’ $500M PIPE:
The company is
selling
nearly 30 million shares at $17.06 apiece. Baker Brothers Life Sciences is the lead investor in the PIPE, per
SEC filings
, and will get a board seat. The funding
coincides
with Denali saying it nabbed $12.5 million from a third party last month for a LRRK2 program called BIIB122; however, Denali will take the program forward alone into a Phase IIa trial. Biogen is continuing to run a Phase IIb trial, and the pair will commercialize the drug together if it receives FDA approval. It previously
discontinued
a Phase III study for the program last June. Denali shares
$DNLI
rose roughly 10% premarket on Tuesday.
— Max Gelman
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