Bellerophon: Pares gains on discounted stock offering

Bellerophon Therapeutics

30/03/2020 15:44

(Updates)
    ** Shares of Bellerophon Therapeutics  BLPH.O  up 1% at
$12.84, paring gains after rising as much as 65.7%
    ** Co says it had entered agreements with several investors
for sale of 1.3 mln of its common shares at a price of $12/shr -
a 5.3% discount to its last share price  urn:newsml:reuters.com:*:nGNX2rYyXn
    ** BLPH shares touched a 10-day high of $21 earlier on
Monday after co said it used its inhaled nitric oxide therapy,
INOpulse, to treat a coronavirus patient for the first
time urn:newsml:reuters.com:*:nGNX2rYyXn
    ** H.C. Wainwright acting as exclusive placement agent for
the offering 
    ** Co expects gross proceeds of $15.3 mln, which it intends
to use for working capital and other corporate purposes 
    ** Including Monday's gains, shares have more than doubled
YTD 

 (Reporting by Manas Mishra and Vishwadha Chander in Bengaluru)
 ((vishwadha.chander@thomsonreuters.com))