Xenon Pharma Prices Upsized $650 Mln Offering Of Shares And Warrants

Xenon priced an upsized underwritten offering of 10.53 million shares at $57.00 per share, raising approximately $600.2 million in gross proceeds, and issued pre-funded warrants to certain investors. The transaction materially increases the company’s liquidity and runway for its clinical programs but is dilutive to existing shareholders.

Analysis

Xenon priced an upsized underwritten offering of 10.53 million shares at $57.00 per share, raising approximately $600.2 million in gross proceeds, and issued pre-funded warrants to certain investors. The transaction materially increases the company’s liquidity and runway for its clinical programs but is dilutive to existing shareholders.