CORRECTION: Phathom Pharmaceuticals Announces Proposed Public Offering Of Common Stock; Intends To Grant The Underwriters A 30-Day Option To Purchase Up To An Additional 15% Of The Total Number Of The Shares Of Its Common Stock Offered
Portfolio Pulse from Happy Mohamed
Phathom Pharmaceuticals (NASDAQ:PHAT) announced a proposed public offering of its common stock, subject to market conditions, and plans to grant underwriters a 30-day option to purchase up to an additional 15% of the shares. The net proceeds will be used to fund clinical development, pre-commercial activities, and working capital.
May 23, 2023 | 8:08 pm
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Phathom Pharmaceuticals plans a public offering of its common stock and a 30-day option for underwriters to purchase additional shares. Proceeds will fund clinical development and working capital.
Phathom Pharmaceuticals' stock price may experience short-term volatility due to the proposed public offering and the uncertainty surrounding its completion, size, and terms. However, the impact on the stock price is neutral in the short term as the proceeds will be used to fund the company's clinical development and working capital, which could potentially benefit the company in the long run.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100