Vertex Pharmaceuticals
Executive Summary
Raises $15 mil. in private placement of 1.2 mil. shares at $12.50 per share to a European investor, the Cambridge, Mass.-based rational drug design R&D firm announces Nov. 10. The investor has agreed not to sell any of the stock for "at least one year" from closing, and has "stated its intention to purchase additional shares" on the open market, Vertex notes. With the proceeds and the placement, Vertex will have approximately $109 mil. in cash and equivalents on hand and 17.2 mil. shares of common stock outstanding
You may also be interested in...
Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Shire Hopes To Sow Future Deals With $50M Venture Fund
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth