ContraFect rises after $10 mln stock offering, $3 mln private placement to Pfizer

CONTRAFECT

10/12/2019 14:28

** ContraFect Corporation  CFRX.O  up ~5% premarket after co
raises equity
    ** CFRX offers 37.2 mln shares at 27 cents/sh, raises $10
mln; Pfizer  PFE.N  also agrees to buy 11.1 mln shares in
separate private placement at same price as public offering for
$3 mln  urn:newsml:reuters.com:*:nGNX5ZvSfG
    ** 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    
    ** CFRX has ~79.4 mln shares outstanding and 71.4 mln shares
of free float, per Refinitiv data
    ** All 4 brokerages recommmend buying the stock; median PT
is $1.75 (Refinitiv data)
    ** ~724k CFRX shares have traded premarket vs 30-DMA volume
of ~273k, per Refinitiv
    ** CFRX has fallen 81% this year

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