Phathom Pharma bounces after co scraps stock offering
28/10/2021 11:19
** Phathom Pharmaceuticals PHAT.O shares up ~9% premarket
after co pulls stock offering
** PHAT late Weds withdrew proposed offering saying "current
market conditions are not conducive to an offering on terms that
would be in the best interests of our stockholders" urn:newsml:reuters.com:*:nGNX3GBJs9
** Co says cash/cash equivalents of $225 mln at Sept 30,
along with drawdown of remaining $100 mln under term loan
facility sufficient to fund operations into mid-2023
** PHAT shares on Weds closed down 22.9% at $24.76 after co
launched 5 mln share offering, including 1 mln shares being
offered by Japan's Takeda Pharmaceutical Co 4502.T
urn:newsml:reuters.com:*:nL1N2RN23L
(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))