Immunome Announces Proposed $200M Public Offering of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Immunome, Inc. (NASDAQ:IMNM), a biotech company focusing on cancer therapies, announced a proposed public offering of $200M of its common stock. The offering is underwritten by J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities, with Wedbush PacGrow as the lead manager. The company also plans to give underwriters a 30-day option to buy an additional 15% of the shares sold.
February 13, 2024 | 9:42 pm
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Immunome announces a $200M public offering of common stock to fund its cancer therapy projects, with major financial institutions as underwriters.
Public offerings often lead to short-term price declines due to the dilution of existing shares. Given the size of the offering and the involvement of major financial institutions, the impact is likely to be significant but could be mitigated by the funds' intended use for advancing cancer therapy projects.
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