Contineum Therapeutics slides after upsized $90 million stock sale

Contineum Therapeutics

12/12/2025 16:56

** Drug developer Contineum Therapeutics' CTNM.O shares slide 8.6% to $11.95

** CTNM late Thursday announced pricing of upsized $90 million stock offering

** Offering boosted from initial size of $75 million

** CTNM sold ~7.35 million shares in the offering at $12.25 apiece, a 6.3% discount to the last close

** Proceeds will be used to advance the development of its experimental drug, PIPE-791, and to fund research and development activities, among other purposes

** Goldman Sachs, Leerink Partners, Stifel, RBC Capital Markets and William Blair were joint book-running managers for offering

** All seven brokerages covering the stock rate it "buy" or higher; median PT $22 — data compiled by LSEG

** As of last close, CTNM down 10.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))