MyoKardia (NASDAQ:MYOK) inks an agreement with Cowen and Company for the at-the-market sale of up to $200M of its common stock. Cowen will earn a 3% commission for its efforts.
Dilution on the way as General Cannabis reboots business
General Cannabis (OTCQX:CANN) CEO Steve Gutterman announces several initiatives that, he says, will focus operations and strengthen the balance sheet as the company prepares to roll out its “Cannabis 3.0” growth strategy. Key points:
Expand the business around Next Big Crop, its profitable cultivation consulting business.
Divest non-core businesses, including its security unit, CBD consumer sales division and its apparel unit.
Pay off interest on a major note and convert the principal to stock on yet-to-be-finalized terms.
Capital raise planned.
I-Mab Biopharma commences registrational MM study in China
Dosing is underway in a Phase 2 registrational trial in China evaluating I-Mab Biopharma’s TJ202/MOR202, a fully human monoclonal antibody targeting a protein found on the surface of cancer cells called CD38, in patients with relapsed/refractory multiple myeloma (MM). The company in-licensed rights to the candidate from MorphoSys AG (NASDAQ:MOR) in November 2017 in China, Taiwan, Hong Kong and Macao.
Two Phase 2s were initiated in Taiwan about a year ago and were recently expanded into China.
The company filed for a $100M U.S. IPO in October 2019.
