Yarrow Bioscience falls on $150 mln stock sale
BUZZ-Yarrow Bioscience falls on $150 mln stock sale ** Yarrow Bioscience's YARW.O shares down 6.3% at $26.66 before the bell on Fri after $150 mln overnight follow-on priced
** Biotech firm late Thurs sold ~5.8 mln shares at $26, an 8.6% discount to last sale
** Co intends to use net offering proceeds to fund R&D expenses for its pipeline and for general purposes, including working capital, capex
** Jefferies, TD Cowen and Guggenheim joint bookrunners
** In late Jul, YARW completed its reverse merger with Vyne Therapeutics and announced initiation of dosing of patients in Phase 2a/2b trial evaluating YB-101, a potential treatment for Graves' disease and thyroid eye disease
** New Haven, Connecticut-based YARW has ~2.7 mln shares outstanding
** Through Thurs, stock up ~52% over the past three months
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))