Progenity slumps as it plans $90 mln secondary offering

Biora Therapeutics

23/11/2021 18:15

** Biotechnology firm's shares  PROG.O  slide 10% to $4
    ** Company plans offering of shares worth up to $90 mln (https://bit.ly/3cGteQb)
    ** PROG's total outstanding shares 163.7 mln - Refinitiv
data
    ** Company says ~$44 mln in warrants exercised to date
during Q4, which provides sufficient liquidity to support
critical R&D milestones through 2022  urn:newsml:reuters.com:*:nGNX5slJqW
    ** 2 of 3 brokerages rate stock "hold", and 1 "buy"; median
PT $3
    ** Including session's losses, stock down nearly 25% YTD

 (Reporting by Leroy Leo)
 ((Leroy.Dsouza@thomsonreuters.com))