Deals

Idera Pharmaceuticals Raises $7M

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Idera Pharmaceuticals (IDRA) announced that it has raised $7 million in a Convertible Preferred Stock transaction with investor Pillar Pharmaceuticals II. The fixed conversion price of the Convertible Preferred Stock is $0.70 per share, an approximate 1.45% premium to the market price ($0.69) of IDRA at deal announcement. A series of 8,484,840 Warrants with an exercise price of $0.70 per share (1.45% premium) was issued to the investors in this transaction. Piper Jaffray & Co. acted as the exclusive agent on the transaction, which closed on Nov. 12, 2012.

Deals

Array BioPharma Raises $65M in CMPO

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Small molecule treatment developer Array BioPharma (ARRY) announced that it has raised $65.7 million in a CMPO/Overnight transaction. The common stock was sold at $3.65 per share, an approximate 13% discount to the market price ($4.21) of ARRY at deal announcement. J.P. Morgan Chase and Jefferies & Company acted as lead agents, with Piper Jaffray, Stifel Nicolaus and William Blair & Company acting as co-agents on the transaction. Placement Agent counsel was Latham & Watkins, and issuer counsel was Gross Hartman. The transaction is expected to close by Nov.

Deals

MLV & Co. in $25M ATM with Anthera Pharmaceuticals

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Anthera Pharmaceuticals (ANTH) has secured up to $25 million in an ATM (At the Market) transaction with MLV & Co. The purchase price is the prevailing market price at the time of the Draw Down Notice. Placement Agent counsel was LeClairRyan, and issuer counsel was Goodwin Procter. See the PlacementTracker Deal Summary.

Deals

Spherix Raises Cash with Unit Offering

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Spherix (SPEX) announced that it has raised $2.57 million in a Unit (Common Stock and Warrant) transaction. The company develops pharmaceutical treatments and offers regulatory consulting services. The common stock was sold at $5.32 per share, an approximate 18% discount to the market price ($6.49) of SPEX at deal announcement. A series of 483,657 60-Month Warrants with an exercise price of $6.53 per share (0.62% premium) was issued to the investors in this transaction. Ladenburg Thalmann & Co. acted as the exclusive agent on the transaction.