Compugen prices upsized $75 mln stock offering

Compugen

12/03/2020 12:19

** Israeli cancer drug developer Compugen Ltd  CGEN.O 
prices follow-on of ~8.3 mln shares at $9, raises $75 mln
 urn:newsml:reuters.com:*:nPn7RxtJba
    ** Jt bookrunners SVB Leerink and Stifel had marketed deal
size of ~$60 mln upon launch late Weds
    ** Offer price represents 24% discount to CGEN last sale of
$11.83. Shares have yet to trade premarket
    ** Stock has gained 26% this week, traded to as high as
$12.80 on Tues, since co early Mon reported positive data from
clinical trial in patients with advanced solid tumors
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    ** Last month, Compugen announced plans to start triple
combination study testing experimental treatment COM701, along
with Bristol-Myers Squibb's  BMY.N  Opdivo and BMS-986207
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    ** Stock offering represents ~12% of CGEN's outstanding
shares, and roughly 17 days worth of trading volumes based on
90-DMA
    ** Co had $44 mln of cash at end-Dec
    ** CGEN has doubled YTD
    

 (Reporting by Lance Tupper)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))