Co­gent Bio­sciences fol­lows AS­CO da­ta drop for KIT in­hibitor with up­sized $150M pub­lic stock of­fer­ing

Days af­ter a da­ta drop for its KIT in­hibitor at this year’s Amer­i­can So­ci­ety of Clin­i­cal On­col­o­gy meet­ing, Co­gent Bio­sciences an­nounced an up­sized un­der­writ­ten pub­lic of­fer­ing of 12.5 mil­lion shares of its com­mon stock on Tues­day, of­fered at $12 per share with ex­pect­ed pro­ceeds at $150 mil­lion.

The un­der­writ­ers will al­so have a 30-day op­tion to pur­chase up to an ad­di­tion­al 1.875 mil­lion shares of its com­mon stock. It’s ex­pect­ed to close around June 9.

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