BUZZ-Drug developer Annexon slips after $75 million capital raise

Reuters11-14
BUZZ-Drug developer Annexon slips after $75 million capital raise

** Drug developer Annexon's ANNX.O shares fall as much as 10.6%; last down 6.2% at $2.67

** Late Wednesday, ANNX announced pricing of a $75 million public offering of its common stock and pre-funded warrants

** ANNX sold ~25.1 million shares and pre-funded warrants to purchase 3.75 million shares of common stock at a purchase price of $2.60 apiece

** Offering priced at 8.5% discount to stock's last close

** ANNX had 115.1 million outstanding shares as of September 30, according to offering prospectus

** Goldman Sachs, TD Cowen and Wells Fargo Securities were joint book-running managers for offering

** As of last close, ANNX stock down 44.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment