Prometheus moves to raise cash hours af­ter PhII da­ta leads to stock surge

Af­ter re­leas­ing bet­ter-than-an­tic­i­pat­ed da­ta on two mid-stage stud­ies Wednes­day morn­ing, Prometheus Bio­sciences’ CEO said the com­pa­ny would “take some time to as­sess” its next fi­nanc­ing op­tions.

It on­ly need­ed about sev­en hours. Wednes­day af­ter­noon af­ter the mar­ket closed, the biotech an­nounced it would seek $250 mil­lion through an eq­ui­ty of­fer­ing as the com­pa­ny looks to edge out an­ti-TL1A com­peti­tor Pfiz­er and its new part­ner Roivant.

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