Finance Watch: PTC Secures Up To $1bn In Funding From Blackstone
Public Companies Seek Alternative Financing Options
Executive Summary
Public Company Edition: PTC will get $350m up front as part of an initial $500m commitment. Also, while Biohaven and Vaxcyte launched traditional follow-on offerings, Recursion and Agios took the private placement and royalty sale routes, while others revealed job cuts and other strategic updates.
You may also be interested in...
Finance Watch: PTC Raises $1bn In Evrysdi Royalty Deal Weeks After Latest Layoffs
Public Company Edition: PTC sold more of its Evrysdi royalties to Royalty Pharma for $1bn. Abivax gained $235.8m in an IPO and concurrent private placement, while Cerevel grossed $450m and Nuvalent and Ultragenyx raised $300m each in follow-on offerings, but Freeline is reviewing strategic options.
Finance Watch: Signs Of Life? A Small Offering, Three New Filings And Galderma Hints At An IPO
Public Company Edition: Private Galderma raised $1bn but said its next likely financing will be an IPO. Also, Azitra went public while Turnstone, Apogee and Sagimet initiated the process; Sutro signed a royalty deal for up to $390m; and despite a follow-on offering mini-surge, cost cuts continue.
For PTC, Future Is About Genetic Medicine And Diversified Revenue Stream
PTC Therapeutics’ CEO Matthew Klein says the uncertainties of gene therapy development and commercialization have led to huge opportunity costs. After shelving PTC’s preclinical gene therapy programs, he is leveraging the company's diverse platforms and expanding its commercial efforts.