$ALVO

Biotech gainers included SciSparc (SPRC) after its subsidiary NeuroThera Labs completed internal validation of a quantum sampling platform. Avantor (AVTR) rose after Q2 results and raised 2026 adjusted EPS to $0.80-$0.83. NeoGenomics (NEO) lifted 2026 revenue guidance to $802-$806M. Other movers: Alvotech (ALVO) on FDA facility inspection, Sanara MedTech (SMTI) to be acquired by MiMedx (MDXG), and LB Pharmaceuticals (LBRX) after a ~$150M private placement.

Alvotech said the U.S. FDA closed its May 2026 inspection of its Reykjavik, Iceland manufacturing site and classified it as Voluntary Action Indicated (VAI). The company said it is continuing to work with the FDA on biologics license applications for AVT05 (Simponi) and AVT06 (Eylea), and that the FDA accepted AVT16 (Entyvio). ALVO stock was $3.53, up 13.87%.

Alvotech (NASDAQ: ALVO) said it amended its credit agreement to add a $75 million term loan facility maturing Dec. 31, 2027, led by GoldenTree Asset Management. The financing follows a $165 million equity raise on June 18, 2026, bringing total new capital access to $240 million (equity plus undrawn loan). Funds support R&D and global product launches.

Alvotech (ALVO) said it is launching an underwritten public offering of ordinary shares and a concurrent private placement, not an IPO. Net proceeds are expected at about $125 million, to fund biosimilar development and general corporate purposes. Underwriters have a 30-day option to buy up to 15% more shares. BofA Securities, Jefferies and Evercore ISI are joint book-runners.

Alvotech (NASDAQ: ALVO) said it closed its underwritten public offering on June 17, 2026, selling 26,066,667 ordinary shares at $3.75 each, including full exercise of the underwriters’ option for 3,400,000 additional shares. Gross proceeds to the company were about $98 million. A concurrent $67 million private placement of 17,826,666 shares is expected to close around June 25, bringing total gross proceeds to about $165 million.

Alvotech (ALVO) priced a combined $152 million capital raise via an underwritten public offering and a concurrent private placement, according to the company. The public offering sells 22.67M shares at $3.75 each for about $85M gross proceeds (about $98M if underwriters’ option is exercised). A private placement sells 17.83M shares for about $67M. Net proceeds will fund biosimilar development and corporate needs; shares closed at $4.24 Monday.

Alvotech (NASDAQ: ALVO) priced a $152 million public offering of 22,666,667 ordinary shares at $3.75 each, with an underwriters’ 30-day option to buy up to 3,400,000 more shares. Expected gross proceeds are about $85 million, or $98 million with the option. A concurrent private placement will sell 17,826,666 shares for about $67 million. Net proceeds will fund biosimilar development and corporate purposes.

Alvotech (NASDAQ: ALVO) priced a $152 million underwritten public offering of 22,666,667 ordinary shares at $3.75 each, expected to close June 17, 2026. Gross proceeds are about $85 million, rising to ~$98 million if underwriters buy an extra 3.4 million shares. A concurrent private placement will sell 17,826,666 shares for ~$67 million gross. Total gross proceeds: ~$152 million (~$165 million with the option).

Biotech stocks rose Monday as investors reacted to clinical and regulatory updates. Tango Therapeutics (TNGX) jumped 52.97% after initial Phase 1/2 pancreatic cancer data showed 90% 6-month PFS; Alvotech (ALVO) gained 19.77% as the FDA accepted its Entyvio interchangeable biosimilar AVT16; Zevra (ZVRA) rose 13.95% on an Orange Book listing for MIPLYFFA.

Alvotech (Nasdaq: ALVO) and Islandsbanki renewed and amended their market making agreement for ALVO shares on Nasdaq Iceland Main Market, according to the agreement. Islandsbanki will post bid/ask quotes with at least ISK 8 million aggregate value, a max 2.5% spread, and a daily net trade limit of ISK 16 million. The amendment was signed May 29, 2026, with no fixed term and 7-day termination notice.