Prothena dips after pricing equity offering

Prothena

15/12/2022 12:38

** Prothena Corp's  PRTA.O  shares down ~1% at $57.40 before
the bell as biotech firm raises equity
    ** Co late Weds sold 3.25 mln shares at $56.50  urn:newsml:reuters.com:*:nBw6VlYc0a
    ** PRTA shares on Weds fell 8.3% to close at $57.97 after co
launched 3 mln share offering to fund clinical trials,
preclinical studies
    ** Co has ~48.4 mln shares outstanding, per Refinitiv
    ** On Mon, co presented Phase III data at annual ASH
(American Society of Hematology) meeting that showed its drug
birtamimab extended lives of patients with Mayo Stage IV AL
amyloidosis  urn:newsml:reuters.com:*:nBwbt7R5Na
    ** Birtamimab also being developed as potential treatment
for Alzheimer’s
    ** PRTA shares have gained 97% over the past three months
through Weds
    ** Jefferies, Evercore, Cantor Fitzgerald and Oppenheimer
acting as bookrunners for equity offering
 (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))