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Public equity roundup: Edgewise shares get lift after $240M offering

ARTICLE | Finance

Plus offerings by Immatics, Viridion, Alector, LegoChem and more

By Paul Bonanos, Director of Biopharma Intelligence

January 19, 2024 10:18 PM UTC

A handful of public biopharmas raised cash this week in the absence of obvious catalysts, representing a positive sign of strengthening investor demand in the sector.

Shares of Edgewise Therapeutics Inc. (NASDAQ:EWTX) jumped 35% on Friday after the biotech suspended its ongoing at-the-market financing and priced a registered direct offering that included numerous crossover investors. The biotech raised $240 million through the sale of 21.8 million shares at $11, a 14% premium to Thursday’s close of $9.69. First-time investors RA Capital Management, TCG X, and Venrock Healthcare Capital Partners joined a group of existing investors in the deal…