Humanigen: Down on discounted share offering

Humanigen

31/03/2021 12:23

** Drug developer's shares  HGEN.O  fall as much as 8.6% to
$19.81 premarket, making it one of the top pct losers on the
Nasdaq     
    ** Co prices its underwritten public offering of 5 mln
shares at $18.50 per share, representing a 14.7% discount to
stock's last close 
    ** Expected gross proceeds from the offering are ~$92.5 mln
    ** Jefferies, Credit Suisse and Cantor are acting as joint
book-running managers for the offering
    ** Offer size represents ~14% of co's free float - Refinitiv
data
    ** HEGN's shares soared as much as 68% on Monday as its lead
drug candidate improved ventilator-free survival in COVID-19
patients  urn:newsml:reuters.com:*:nL4N2LR2PZ
    ** Up to last close, stock up ~23% this year

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))