Five biotechs planning follow-ons

Published on Wednesday, October 17, 2012

At least five biotechs announced plans for follow-ons late Wednesday, including Anacor Pharmaceuticals Inc. (NASDAQ:ANAC); CytRx Corp. (NASDAQ:CYTR); ImmunoCellular Therapeutics Ltd. (NYSE-M:IMUC); Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX); and MannKind Corp. (NASDAQ:MNKD).

Cowen is the underwriter for Anacor, which has a topical antifungal in Phase III testing. Anacor was off $0.08 to $6.46 on Wednesday. Cancer company CytRx's offering is underwritten by Aegis Capital. CytRx was down $0.41 (12%) to $3.11. Lazard is underwriting the offering for cancer company ImmunoCellular, which slid $0.06 to $2.41 on Wednesday. JPMorgan and Jefferies are underwriters for Lexicon, which has a Phase III carcinoid treatment. Lexicon was down $0.05 to $2.50. Diabetes firm MannKind's planned follow-on is underwritten by Jefferies and Piper Jaffray. MannKind was up $0.02 to $2.60.

http://www.biocentury.com/dailynews/financial/2012-10-17/five-biotechs-planning-follow-ons