Kaleido Biosciences down as stock offering priced at discount
02/06/2020 19:45
** Drug developer's shares KLDO.O fall 13.7% to $6.91
** Company late on Monday said its public offering of 4.75
mln common shares was priced at $7.50 per share, a 6.4% discount
to stock's previous close urn:newsml:reuters.com:*:nGNXhgDsV
** KLDO to use net proceeds to fund ongoing clinical
programs, including those studying treatments for COVID-19
patients and patients with urea cycle disorders
** Morgan Stanley is the sole book-runner for the offering,
while Canaccord Genuity is the lead manager
** KLDO stock up ~37% YTD
(Reporting by Vishwadha Chander in Bengaluru)
((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 80 6749 6132;))