Nivalis Therapeutics files for $142.5M shelf registration
BOULDER – Nivalis Therapeutics Inc. (Nasdaq: NVLS), which is developing a drug to combat cystic fibrosis, on Wednesday filed a shelf registration for up to $142.5 million-worth of securities.
The filing gives the Boulder-based company the flexibility to conduct an offer more quickly at some point in the future if Nivalis were to need cash or market conditions became favorable for an offering.
Wednesday’s filing notes that the company could offer some combination of common stock, preferred stock or debt securities not to exceed $125 million. The company also registered 3.7 million shares that could be sold by selling stockholders worth up to $17.5 million, though the company itself would not receive proceeds from the sale of those shares.
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Nivalis raised $88.55 million through an initial public offering early last year. In the company’s first-quarter earnings report this year reported cash, cash equivalents and marketable securities of $80.2 million. The company said it should have enough cash to fund a current Phase 2 clinical trial for N91115 and operations of the company through the middle of next year when it starts enrolling patients for a Phase 3 trial.
Nivalis earlier this year was granted Fast Track designation for N91115 from the U.S. Food and Drug Administration, which provides for accelerated review of drugs intended to treat serious or non-life-threatening conditions and unmet medical conditions.
Nivalis shares were down 6.5 percent in afternoon trading Wednesday to $4.37 apiece.
BOULDER – Nivalis Therapeutics Inc. (Nasdaq: NVLS), which is developing a drug to combat cystic fibrosis, on Wednesday filed a shelf registration for up to $142.5 million-worth of securities.
The filing gives the Boulder-based company the flexibility to conduct an offer more quickly at some point in the future if Nivalis were to need cash or market conditions became favorable for an offering.
Wednesday’s filing notes that the company could offer some combination of common stock, preferred stock or debt securities not to exceed $125 million. The company also registered 3.7 million shares that could be sold by selling stockholders worth up…
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