Idenix seeks $56.2 million from public offering and Novartis placement
This article was originally published in Scrip
Executive Summary
In what may be another sign of investors and pharmaceutical company buyers seeking bargains in biotech, Idenix Pharmaceuticals, on 8 April priced a stock offering more than 13% below its 7 April closing share price of $3.24. The company plans to sell 18.3 million shares at $2.80, with JP Morgan the underwriter.