Replimune jumps after $150 mln equity offering for skin cancer drug
BUZZ-Replimune jumps after $150 mln equity offering for skin cancer drug ** Replimune's REPL.O shares jump 14.5% to $13.82 on Mon after $150 mln follow-on priced to fund its recently-approved skin cancer drug
** Woburn, Massachusetts-based REPL early Mon sold about 12.4 mln shares, including about 2.7 mln pre-funded warrants, at $12.06
** Leerink, JP Morgan and Cantor Fitzgerald are bookrunners
** REPL expects to use net offering proceeds to fund commercial launch of Tudriqev and broadening the RP2 clinical development plans, per the prospectus
** Late Thurs, the U.S. FDA approved Tudriqev in combination with Bristol Myers Squibb's BMY.N Opdivo in advanced melanoma in patients whose tumors grew despite prior treatment
** REPL's stock closed at $5.41 on Jul 29, which was its last close before the regulator's panel of advisors voted in favor of the drug
** 7 of 8 analysts covering the stock rate it "strong buy" or "buy", 1 recommends "sell"; median PT $16.50, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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