** Biotech firm Alvotech's ALVO.O shares down 9% premarket on Tues to $3.86 after $152 mln equity raise

** Reykjavík, Iceland-headquartered ALVO late Mon announced pricing public offering of ~22.7 mln shares at $3.75 for approx $85 mln

** It also sold ~17.8 mln shares to European investors in concurrent private placement for gross proceeds of about $67 mln

** Offering price represents 11.6% discount to stock's last close

** ALVO, which has ~312 mln shares outstanding, plans to use net proceeds from transactions to fund development of its biosimilar assets, along with working capital and general purposes

** BofA, Jefferies and Evercore joint bookrunners for public offering

** Through Mon, ALVO shares down 17% YTD

** Of 6 analysts covering the stock, 4 rate "strong buy" or "buy", 1 "hold", 1 "sell"; median PT $7.50, according to LSEG data