Centessa Pharma drops on $150 mln share offering launch

Centessa Pharmaceuticals

11/09/2024 21:32

** U.S.-listed shares of Centessa Pharmaceuticals  CNTA.O 
drop 4.4% to $13.15 in extended trading as co seeks equity raise
    ** Narcolepsy-focused biotech commences offering of $150 mln
of American depositary shares (ADSs)
    ** Goldman Sachs, Leerink, Evercore, Guggenheim and BMO jt
bookrunners
    ** Early Tues, co said its sleep disorder drug, ORX750,
showed statistically significant improvement in mean sleep
latency
    ** Shares on Weds closed down 5.7% at $13.75, following 2.3%
loss on Tues. Shares ended 2023 at $7.96
    ** Co has 113.3 mln shares outstanding for ~$1.6 bln market
cap, and ~97.7 mln shares of public float, per LSEG

 (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))