Iveric Bio drops on $100 mln stock deal

IVERIC bio

13/07/2021 11:58

** Iveric Bio  ISEE.O  shares down 4% premarket after
follow-on prices
    ** Retinal disease specialist sells 11.65 mln shares at
$8.60, raises $100 mln  urn:newsml:reuters.com:*:nBw3Qk6Jga
    ** Offering prices at 4.6% discount to stock's last sale
    ** Cowen, Credit Suisse and Stifel acting as bookrunners
    ** Co has ~90.3 mln shares outstanding and ~84.9 mln of
public float, per Refinitiv data
    ** Equity raise comes a week after U.S. FDA agreed with
overall design of ongoing second late-stage study of co's eye
disorder drug Zimura  urn:newsml:reuters.com:*:nL3N2OI2GZ
    ** ISEE shares have risen 43% this month through Mon close

 (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))