On 20 May 2020, Idorsia Ltd, a Swiss biopharmaceutical company, successfully completed a private placement with institutional investors of 11 million new registered shares, corresponding to 8.4% of its currently issued share capital, by way of an accelerated bookbuilding process. The shares were placed at CHF 30.00 per share, resulting in gross proceeds of CHF 330 million. The net proceeds will be used by Idorsia to prepare to launch its first commercial products and to continue to fund the development of its other pipeline candidates.