Benitec Biopharma slips on pricing stock offering at discount
13/09/2022 12:52
** Shares of drug developer Benitec Biopharma Inc BNTC.O
fall 5.5% to $0.60 before the bell
** Co late on Monday announced $18 mln stock offering of
more than 29.8 mln shares with accompanying warrant at a
combined price of $0.60 - a discount of 5.5% on its last close
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** Co plans to use proceeds for financing clinical trial of
its lead drug, BB-301, for treatment of Chronic Hepatitis B
Virus infection
** JMP Securities is sole book-running manager for the
offering, which is expected to close on Sept. 15
** Co currently has ~8.17 mln outstanding stock, ~7.04 mln
free float - Refinitiv IBES data
** Up to Monday's close, stock down ~76% YTD
(Reporting by Khushi Mandowara)
((Khushi.Mandowara@thomsonreuters.com;))