Replimune slips after $125 mln stock offering announced
** Shares of biotech co Replimune Group REPL.O down 3.6% premarket to $14.39 as it plans equity raise
** REPL announces $125 mln offering comprising stock and pre-funded warrants with Leerink as sole bookrunner
** It plans to use net offering proceeds to fund its drug platform including indication expansion of its lead candidate RP1 in skin cancer, per the SEC prospectus filing
** REPL shares on Fri jumped 35.1% to close at over 1-yr high of $14.93, a day 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
** REPL has ~68.4 mln shares outstanding for $1 bln market cap and 64 mln shares of public float, per LSEG
** Through Fri, shares up 77% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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