BUZZ-Capricor Therapeutics launches equity offering following stock surge
Capricor Therapeuticslaunched an equity offering after its shares surged 371% due to positive trial results for its cell therapy, deramiocel, in treating Duchenne muscular dystrophy. The stock rose 3.2% in extended trading but closed down 15.2% the next day. The company plans to use the proceeds for product development and manufacturing. Piper Sandler and Oppenheimer are joint bookrunners. Analysts are bullish with a median price target of $44, up from $21.50.
Capricor Therapeutics’ (CAPR.O) shares up 3.2% at $26.20 i
n extended trading as it looks to raise equity
San Diego, California-based biotech firm stock offering without disclosing deal size
CAPR shares surged 371% to an 8-year high on Weds after co its experimental cell therapy, deramiocel, slowed the progression of Duchenne muscular dystrophy (DMD) in a late-stage trial
Shares closed down 15.2% at $25.40 on Thurs
Co intends to use net offering proceeds for continued development and manufacturing of its product candidates, among other purposes
Piper Sandler and Oppenheimer are joint bookrunners
All 10 analysts are bullish on CAPR; median PT of $44 up from $21.50 a month ago, per LSEG (Lance Tupper is a Reuters market analyst. The views expressed are his own)
