Definium Therapeutics dips after announcing $500 mln equity offering
BUZZ-Definium Therapeutics dips after announcing $500 mln equity offering ** Shares of Definium Therapeutics DFTX.O dip 1.9% post-market to $35.97 as it seeks equity raise
** DFTX unveils $500 mln offering comprising stock and pre-funded warrants
** JP Morgan, Jefferies, Leerink and BofA joint lead bookrunners
** DFTX's stock soared 50% to close at $36.67 on Mon after co said its LSD-based drug, DT120, significantly reduced symptoms of major depression in patients in late-stage trial.
** Co intends to use net proceeds from equity offering for R&D of its product candidates, preparation activities for potential commercialization of DT120, among other purposes
** It has ~109.1 mln shares outstanding for $4 bln market cap
** All 16 analysts covering the stock are bullish including 6 "strong buy" ratings; median PT $50, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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