Nabriva Therapeutics falls on direct stock and warrants offering

Nabriva Therapeutics

01/06/2020 13:17

** Nabriva Therapeutics  NRBV.O  down >25% premarket after
co announces $38 mln equity raise. NBRV among biggest % losers
before the bell
    ** Late Fri, co said several healthcare-focused
institutional investors, including Fidelity Management, agreed
to buy ~41.4 mln shares and warrants to purchase up to same
amount  urn:newsml:reuters.com:*:nGNXcgsRDd
    ** Each share and accompanying warrant sold together at
combined purchase price of $0.91686 
    ** 2-yr warrants have exercise price of $0.792/sh and
exercisable immediately
    ** NBRV rose 34% to $1.14 on Fri as EU panel backed co's
pneumonia antibiotic, XENLETA, and U.S. FDA accepted resubmitted
filing for its drug to treat complicated urinary tract
infections  urn:newsml:reuters.com:*:nL4N2DB3JI  urn:newsml:reuters.com:*:nGNX9NVhkR
    ** Co has ~100 mln shares outstanding and ~99 mln shares of
free float, per Refinitiv data
    ** NBRV has fallen 13.6% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))