Definium Therapeutics soars again after upsized $700 mln equity raise
BUZZ-Definium Therapeutics soars again after upsized $700 mln equity raise ** Definium Therapeutics; DFTX.O shares up 16.1% to $42 in early Weds trading after above-target $700 mln haul
** DFTX late Tues announced pricing ~20.6 mln share offering at $34
** On Mon, DFTX's stock soared 50% to $36.67 after co said its LSD-based drug, DT120, significantly reduced symptoms of major depression in patients in late-stage trial
** After the bell Mon, co unveiled $500 mln offering for R&D of its product candidates, preparation activities for potential commercialization of DT120, among other purposes
** JP Morgan, Jefferies, Leerink and BofA joint lead bookrunners
** Stock has more than tripled YTD
** All 16 analysts covering the stock are bullish including 6 "strong buy" ratings; median PT $52, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))