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ARTICLE | Financial News

Follow-on roundup: Acadia raises $275M, Rocket pockets $55M

November 28, 2018 10:43 PM UTC

CNS company Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) and gene therapy company Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) each priced follow-ons late Tuesday, raising $275 million and $55 million, respectively.

Acadia markets Nuplazid pimavanserin, a small molecule serotonin receptor 2A (5-HT2A; HT2RA) inverse agonist approved to treat Parkinson's disease psychosis. The company sold 16.2 million shares at $17 in the offering, which was underwritten by BofA Merrill Lynch, J.P. Morgan, Goldman Sachs, Cowen, Cantor Fitzgerald, JMP and Needham. After the company announced the offering postmarket Monday, its stock slid $2.46 (13%) to $17 on Tuesday but bounced back Wednesday to finish up $3.53 (21%) to $20.53. ...