BRIEF—Reata raises $500 million in public offering

Reata Pharmaceuticals has raised approximately $505 million in a public offering. The firm is working on novel therapies for serious diseases, targeting molecular pathways involved in cellular metabolism and inflammation.

The firm said it would use the money for: “working capital and general corporate purposes,” including the development of the candidates bardoxolone methyl and omaveloxolone through to clinical trials.

Reata is developing bardoxolone in Alport syndrome and omaveloxolone in Friedreich's ataxia.