Molecular Templates: Rises on pricing of $50 mln public equity offer

Molecular Templates

21/11/2019 15:48

** Cancer drug developer's  MTEM.O  shares rise 11% to $9.2
after it announces pricing of its public equity offering
    ** Company to offer 6 mln common stock at $8 per share and
250 Series A convertible preferred stock at $8,000 per share
 urn:newsml:reuters.com:*:nGNX9dBqsp
    ** The offer seeks to raise $50 mln in gross proceeds and is
expected to close by Nov. 25
    ** Company to use the cash to fund its drug development
programs, including treatment for blood cancer - MTEM
    ** Accounting for session's gain, the stock has more than
doubled this year

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 0647;))