G1 Therapeutics tumbles on pricing $50 mln stock offering

G1 Therapeutics

18/11/2022 11:06

** G1 Therapeutics Inc's  GTHX.O  shares down ~22% at $6.70
premarket after overnight follow-on prices
    ** GTHX late Thurs sold 7.7 mln shares at $6.50, 24%
discount to last sale 
    ** Co plans to use net offering proceeds to fund
commercialization activities of Cosela, its small-cell lung
cancer drug
    ** Cowen and Raymond James jt bookrunners
    ** GTHX has ~42.9 mln shares outstanding for ~$367 mln
market cap, per Refinitiv data, and ~39 mln shares of public
float
    ** On Nov 2, shares plunged 25% to $8.21 after co reported
below-consensus sales for Cosela
    ** YTD, shares down 16% through Thurs close, and off ~50%
from 52-week high hit in Sept
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))