BUZZ-ImmunityBio slumps on stock offering plan

Reuters12-11
BUZZ-ImmunityBio slumps on stock offering plan

** Shares of cancer therapy maker ImmunityBio IBRX.O slide 18.3% to $3.79 premarket

** IBRX late Tuesday announced plan to sell shares in a public offering, but did not disclose the size

** Company plans to use the proceeds to fund the commercialization of its bladder cancer therapy, among other purposes

** IBRX has 696.8 mln outstanding shares and a market capitalization of $3.23 bln - LSEG data

** Jefferies and Piper Sandler are the joint book-running managers for the offering

** As of last close, IBRX shares down 7.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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