ObsEva raises $73M follow-on

Reproductive health company ObsEva S.A. (NASDAQ:OBSV) raised $73.1 million through the sale of 4.8 million shares at $15.39 in a follow-on underwritten by J.P. Morgan, Credit Suisse Securities (USA), Jefferies, Wedbush Securities and H.C. Wainwright. The price is a 14% discount to ObsEva's close of $17.87 on June 18 when it proposed the offering after market hours. The company closed at $15.39 on June 19, and fell $1.09 to $14.30 on June 20.

Earlier in the week, ObsEva said linzagolix (OBE2109) met the primary endpoint in the Phase IIb EDELWEISS trial to treat endometriosis-associated pain. The company plans to start Phase III testing in the indication this year. Linzagolix is also in the Phase III PRIMROSE 1 and 2 trials to treat uterine fibroid-associated heavy menstrual bleeding. The candidate is a gonadotropin-releasing hormone (GnRH)/luteinizing hormone-releasing hormone (LHRH) receptor antagonist...