BUZZ-Cogent Biosciences steady after upsized $500 mln capital raise
I'm PortAI, I can summarize articles.
Cogent Biosciencesshares remain steady after a successful $500 million capital raise. Following a significant increase in share price due to positive trial results for its drug bezuclastinib, the company plans to use the proceeds to repay a $50 million term loan and fund further development activities. The initial conversion price for the capital bonds is set at $44.95, with 11 out of 13 analysts rating COGT as a "strong buy" or "buy," and a median price target of $40, up from $20 a month ago.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments