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PDSB - PDS Biotechnology News Story

$16.56 -0.5  -3.0%

Last Trade - 24/09/21

Sector
Healthcare
Size
Small Cap
Market Cap £344.0m
Enterprise Value £289.4m
Revenue £n/a
Position in Universe 3775th / 7172

BUZZ-PDS Biotech slumps on stock offering

Mon 14th June, 2021 10:05pm
** PDS Biotechnology Corp  PDSB.O  shares down >20% after
hours as co looks to raise equity
    ** Co announces stock offering to fund development of
clinical pipeline and for general corp purposes including
working capital  urn:newsml:reuters.com:*:nGNX6JybFW
    ** Market sources say sole bookrunner Cantor Fitzgerald
marketing ~$40 mln deal in range of $8.50-$9.00, up to 34%
discount to stock's Mon close of $12.86
    ** Last Tues, PDSB jumped ~19% to $11.16 after co reported
promising data from lead immunotherapy candidate in combination
with two of Merck KGaA's  MRCG.DE  drug candidates for treatment
of advanced human papillomavirus (HPV)-associated cancers
 urn:newsml:reuters.com:*:nL3N2NQ3AB
    ** PDS Bio has ~22.3 mln shares outstanding for ~$286 mln
market cap and ~16.43 mln shares of free float, per Refinitiv
data
    ** Shares on Mon rose 6.6%, extending YTD gain to ~501%

 (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))
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