BUZZ-Contineum Therapeutics slides after upsized $90 million stock sale
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Contineum Therapeutics' shares fell 8.6% to $11.95 after announcing an upsized $90 million stock offering, increased from $75 million. The company sold approximately 7.35 million shares at $12.25 each, a 6.3% discount to the last close. Proceeds will fund the development of its experimental drug PIPE-791 and other R&D activities. The offering was managed by Goldman Sachs and others. All brokerages covering the stock rate it as a 'buy' or higher, with a median price target of $22. CTNM is down 10.8% year-to-date.
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