Roivant Sciences rises after pricing upsized stock offering

Arbutus Biopharma

03/02/2023 12:16

** Shares of Roivant Sciences Ltd   ROIV.O  up 2.2% at $7.76
premarket after co raises more equity than targeted
    ** SoftBank-backed  9984.T  firm sells ~26.7 mln shares at
$7.50 for $200 mln raise
    ** ROIV shares tumbled 11.1% to close at $7.59 on Thurs
after co launched $150 mln offering
    ** Japanese investment giant SoftBank owns ~95 mln ROIV
shares, or 13% stake
    ** In early Jan, ROIV said its bowel disease drug showed
that clinical remission and endoscopic improvement rates were
32% and 40%, respectively, in mid-stage trial
    ** ROIV shares down 5% to start 2023, but have doubled over
the past six months
    ** Goldman Sachs, SVB Secs, Cowen and Cantor Fitzgerald
acting as bookrunners for the offering
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))