Prothena slips on share offering launch

Prothena

14/12/2022 14:41

** Prothena Corp's  PRTA.O  shares down 4.7% at $60.24 early
Weds on light volume as biotech firm looks to raise equity
    ** PRTA late Tues commenced 3 mln share offering to fund
clinical trials, drug discovery activities including preclinical
studies
    ** Jefferies, Evercore and Cantor Fitzgerald jt bookrunners
for offering slated to price Weds after market close
    ** Co has ~48.4 mln shares outstanding for ~$3 bln market
cap as of Tues, per Refinitiv
    ** On Mon, PRTA 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
    ** Through Tues close, PRTA shares gained 8.3% this week and
had surged ~126% over the past three months
 (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))