Bellus Health launches $175 mln equity offering after shares soar

BELLUS Health

14/12/2021 16:51

** U.S.-listed shares of Bellus Health up ~1% on Tues as
Canadian drug firm looks to raise equity
    ** On Mon, shares soared 48% to close at $8.30 after co's
cough therapy drug, BLU-5937, demonstrated 34% reduction in
24-hour cough frequency with low rates of taste-related adverse
events in mid-stage study  urn:newsml:reuters.com:*:nL4N2SY2YC
    ** Co expects to start Phase III trial in 2nd half of next
year
    ** After the bell Mon, co launched $175 mln stock offering
to fund R&D, expenses, working capital and other general
corporate purposes  urn:newsml:reuters.com:*:nBw7WZ0dxa
    ** Jefferies, Evercore and RBC Capital Markets jt
bookrunners; offering slated to price Tues after market close
    ** Co has current market cap of ~$650 mln, per Refinitiv
data

 (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))