Centogene slides further after pricing stock offering

Crown LiquidationCo NV in liquidatie

10/07/2020 12:23

** U.S.-listed shares of Germany-based Centogene  CNTG.O 
down 9.8% premarket at $15.39 after follow-on priced
    ** Diagnostic and pharma co priced 3.5 mln shares at $14,
18% discount to stock's Thurs close  urn:newsml:reuters.com:*:nGNX52GB2B
    ** Centogene offers 2 mln shares; existing investors sell
1.5 mln shares
    ** U.S.-listed shares tumbled 27.6% over past 2 sessions
after co launched offering
    ** Centogene raises $28 mln for R&D to support orphan drug
development with its knowledge-driven information platform
    ** Credit Suisse and SVB Leerink jt bookrunners for offering
    ** On Jul 2, U.S. FDA granted emergency use authorization to
co's COVID-19 molecular diagnostic test  urn:newsml:reuters.com:*:nGNX2PSs2Z
    ** In Apr, co launched swab sampling kit, CentoSwab, to
facilitate detection of SARS-CoV-2, which causes COVID-19
    ** Centogene raised $56 mln in its early-Nov Nasdaq IPO of 4
mln shares, which also priced at $14
    ** U.S.-listed shares fell to low of $7.80 in Dec but were
trading as high as $27.10 last week

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))