ContraFect jumps on equity raise plans; Pfizer to buy $3 mln worth of shares

CONTRAFECT

09/12/2019 21:28

** ContraFect Corporation  CFRX.O  jumps >20% after hours as
co looks to raise equity
    ** CFRX announces proposed share offering without disclosing
size; says Pfizer  PFE.N  has agreed to buy up to $3 mln of
shares in concurrent private placement equal to price of public
offering  urn:newsml:reuters.com:*:nGNX7m3LbJ
    ** Co to use net proceeds of both offerings to fund
initiation of Phase 3 DISRUPT trial of exebacase (CF-301) in
Staph aureus bacteremia
    ** Maxim Group sole bookrunner for public offering    
    ** Co has ~79.4 mln shares outstanding and 71.4 mln shares
of free float, per Refinitiv data
    ** CFRX closed Mon regular session down 8.5% at $0.29,
extending YTD loss to 81%

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