Aptose Biosciences dips after pricing upsized stock deal

Aptose Biosciences

17/12/2019 13:41

** U.S.-listed shares of Aptose Biosciences Inc  APTO.O 
down ~1% premarket after Canadian drug developer raises more
equity than planned
    ** Co offers 16.1 mln shares at $4, ~10% discount to stock's
Mon close, for gross raise of approx $64.5 mln  urn:newsml:reuters.com:*:nGNX1P5gSd
    ** Deal size boosted from targeted raise of $50 mln, sources
say
    ** Aptose  APS.TO  to use all or portion of net proceeds to
fund clinical trials, and for working capital and general corp
purposes
    ** Offering represents about 30% of co's shares outstanding
    ** Piper Jaffray and Canaccord Genuity joint bookrunners
    ** U.S.-listed shares have surged 73% since co's Dec 9
presentation at the annual American Society of Hematology (ASH)
meeting. Aptose presented encouraging data for pipeline
candidate CG-806, drug that rivals AbbVie Inc's  ABBV.N  and
Johnson & Johnson's  JNJ.N  Imbruvica  urn:newsml:reuters.com:*:nGNX9XRXJp
    ** YTD, stock has more than doubled

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