Dyax announces $30m offering
Dyax Corp. of Burlington said Monday that it has priced a registered direct offering with RA Capital Management, Venrock, Federated Investors Inc., and one other institutional investor for gross proceeds of approximately $30 million.
In a press release, Dyax said it intends to use the net proceeds from this offering to fund research and development activities, including the development of DX-2930, a drug candidate for the treatment of hereditary angioedema, or HAE, and for general corporate purposes.
The offering was priced at $2.30 per common share, which was the last reported sale price of the company’s common stock on May 9.
A total of 8,901,675 million shares of common stock and 41,418 shares of Series 1 convertible preferred stock are expected to be issued at closing.