Replimune edges lower after upsized equity raise
** Shares of Replimune Group REPL.O down 0.8% at $13.15 premarket after biotech firm secures more equity than targeted
** Co late Mon announced pricing ~10.8 mln shares, including ~3.8 mln pre-funded warrants, for $140 mln gross proceeds
** REPL shares on Mon closed down 11.2% at $13.26 after co launched $125 mln offering to fund its drug platform, including indication expansion of its lead candidate RP1 in skin cancer
** Its shares on Fri jumped 35.1% to close at over 1-yr high of $14.93, after co said received U.S. FDA's 'breakthrough therapy' designation for RP1 (vusolimogene oderparepvec) in combination with Bristol Myers Squibb's BMY.Nnivolumab to treat adults with advanced melanoma
** The designation intends to speed up development and review of drugs to treat a serious condition or unmet medical need
** Co has ~68.4 mln shares outstanding for ~$907 mln market cap and 64 mln shares of public float, per LSEG
** Through Mon, stock up 57% in 2024 following 69% drop in 2023
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
</body></html>Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
