Hepion Pharma plunges on deep-discounted share offering

Hepion Pharmaceuticals

16/02/2021 12:47

** Hepion Pharmaceuticals Inc  HEPA.O  shares down ~30%
premarket after co prices follow-on
    ** HEPA sells 44.2 mln shares at $2, raises $88.4 mln to
fund R&D, as well as working capital and other general corp
purposes  urn:newsml:reuters.com:*:nGNX2GYSft
    ** Offering price represents 33% discount to stock's Fri
close
    ** ThinkEquity sole bookrunner
    ** HEPA's lead drug candidate, CRV431, currently in
clinical-phase development for treatment of NASH, a fatty liver
disease that has no approved treatments and is poised to become
the leading cause of liver transplants
    ** Deal size is 1.4x HEPA's free float of shares, per
Refinitiv data
    ** Stock up 36% to start 2021, inclusive of 31% jump on Feb
8

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))