Precigen drops after $75 mln equity offering launch

Precigen

24/01/2023 21:41

** Precigen Inc's  PGEN.O  shares down 15% in extended
trading as gene therapy firm looks to raise equity
    ** Co commences $75 mln stock offering with JP Morgan as
lead bookrunner  urn:newsml:reuters.com:*:nPnj92WKa
    ** Alongside offering launch, co announces positive Phase I
dose escalation data for PRGN-2012, its immunotherapy in
patients with recurrent respiratory papillomatosis (RRP)
    ** RRP is a disease characterized by recurrent wart-like
growths on the surface of the vocal cords or tissue around the
vocal cords
    ** Co to host virtual R&D Day event on Tues at 4:30 PM ET to
discuss the data
    ** PGEN closed up 0.9% at $2.19 on Tues, extending YTD gain
to 44%
    ** Co has ~208.2 mln shares outstanding for roughly $456 mln
market cap
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))