Phathom Pharmaceuticals Prices Offering Of 8.7M Shares And 2.6M Pre-Funded Warrants At $11.50 Per Share, Raising Approximately $130M
Portfolio Pulse from Benzinga Newsdesk
Phathom Pharmaceuticals has priced an offering of 8.7 million shares and 2.6 million pre-funded warrants at $11.50 per share, raising approximately $130 million.
August 19, 2024 | 12:02 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Phathom Pharmaceuticals has announced the pricing of an offering of 8.7 million shares and 2.6 million pre-funded warrants at $11.50 per share, raising approximately $130 million.
The issuance of new shares and pre-funded warrants typically dilutes existing shareholders' equity, which can lead to a short-term decrease in the stock price. However, the raised capital could be used for growth initiatives, potentially benefiting the company in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100