Portola Prices Offering At $55/Share

(RTTNews) - Portola Pharmaceuticals, Inc. (PTLA) has offered to sell 6.35 million shares of its common stock to the public at a price of $55 each. The underwriter has a 30-day option to purchase up to an additional 952,500 shares of its common stock. The offering is scheduled to close on September 15, 2017.

Portola's resubmitted Biologics License Application for AndexXa has been accepted for review by the FDA - with an action due date of February 2, 2018. AndexXa was rejected by the FDA last August, and the company was asked to provide additional information primarily related to manufacturing, among other things. The company expects to receive an opinion from the CHMP by early 2018.

Portola expects U.S. launch of Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor, between September and November 2017. The company expects opinion from the CHMP by late 2017 or early 2018.

PTLA closed Tuesday's trading session at $56.96.