AbCellera slips after launching $200 mln stock offering to fund menopause drug
BUZZ-AbCellera slips after launching $200 mln stock offering to fund menopause drug ** Shares of AbCellera Biologics ABCL.O down 3.5% post-market to $9.42 as it seeks equity raise
** Canadian biotech kicks off $200 mln offering comprising stock and pre-funded warrants
** Intends to use net proceeds to fund R&D, clinical advancement of its internal pipeline, including lead clinical program, ABCL635, among other purposes
** ABCL shares on Mon surged 35% after co said its menopause treatment, ABCL635, reduced hot flashes in mid-stage trial
** Shares closed up 4.5% at $9.76 on Tues and have nearly tripled YTD
** Jefferies, J.P. Morgan, Cantor, UBS and BMO joint bookrunners for proposed offering
** Co has ~306.6 mln shares outstanding for roughly $3 bln market cap
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))