Kaleido Biosciences down on $60 mln stock offering
04/02/2021 11:52
** Kaleido Biosciences Inc KLDO.O shares down ~10% on very
light premarket volume after co prices follow-on
** KLDO sells 5.25 mln shares at $11.50, raises ~$60.4 mln
urn:newsml:reuters.com:*:nGNXbVt8PQ
** Offering prices at ~14% discount to stock's Weds close
** Co plans to use net offering proceeds to help fund R&D,
including completion of ongoing clinical studies of experimental
treatment for patients with mild-to-moderate COVID-19 and
ongoing clinical study for drug to treat patients with
mild-to-moderate ulcerative colitis
** Morgan Stanley and Piper Sandler jt bookrunners
** Deal size represents ~15% of KLDO's total shares
outstanding, per Refinitiv
** Co last month said its COVID-19 treatment, along with
self-care practices, showed safety and tolerability in a
clinical trial urn:newsml:reuters.com:*:nL4N2JP39N
** KLDO's stock up ~47% to start 2021. Shares hit record
intraday high of $20.50 last Thurs
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))