ArriVent BioPharma falls on planned $75 mln stock sale

ArriVent BioPharma

01/07/2025 21:27

** ArriVent BioPharma's AVBP.O shares down 4.7% post-market to $19.90 as co looks to raise equity

** Newtown Square, Pennsylvania-based co announces $75 mln offering of shares and pre-funded warrants to buy shares

** Co to use net proceeds to support activities for lead candidate, firmonertinib, its treatment for non-small cell lung cancer, and other pipeline programs, among other general purposes

** Goldman Sachs, Citigroup and Guggenheim are jt bookrunners for offering

** ArriVent has ~34.2 mln shares outstanding for ~$714 mln market cap

** AVBP shares on Tues fell 4% to $20.89, extending YTD loss to ~22%

** Of 8 analysts covering AVBP, recommendation breakdown is  4 "strong buy" or "buy",  rest "hold and median PT is $40, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))