Immunome slides on $200 mln equity offering

Ayala Pharmaceuticals

14/02/2024 14:05

(Updates stock activity)
    ** Immunome Inc's  IMNM.O  shares down 13.3% at $19.41
premarket after biotech firm's overnight follow-on prices
    ** Cancer drug developer late Tues said sold 10 mln shares
at $20, 10.7% discount to last sale
    ** On Feb 6, IMNM shares surged 37% after co agreed to buy
Phase III cancer drug from OTC pink-sheet traded Ayala
Pharmaceuticals  ADXX.PK  to treat desmoid tumors, a type of
soft tissue malignancy
    ** Immunome paying $20 mln in cash and to issue $30 mln in
stock to Ayala
    ** With ~42.7 mln shares outstanding, IMNM has ~$957 mln
market cap, per LSEG data
    ** Stock has more than doubled YTD through Tues
    ** JP Morgan, TD Cowen, Leerink and Guggenheim acting as jt
bookrunners for stock offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))