AveXis raises $400M in follow-on

AveXis Inc. (NASDAQ:AVXS) raised $400 million on Jan. 16 through the sale of 3.9 million shares at $102 in a follow-on underwritten by Goldman Sachs, Jefferies, BofA Merrill Lynch and BMO Capital Markets. The price is a 13% discount to AveXis' close of $117.50 on Jan. 12, before it proposed the follow-on.

Before the market opened on Jan. 16, AveXis announced plans to expand its clinical development program for spinal muscular atrophy (SMA) gene therapy candidate AVXS-101...