BUZZ-Definium Therapeutics dips after announcing $500 mln equity offering

Jpmorgan Chase
Definium Therapeutics, Inc.

Jpmorgan Chase

JPM

0.00

Definium Therapeutics, Inc.

DFTX

0.00

** Shares of Definium Therapeutics DFTX.O dip 1.9% post-market to $35.97 as it seeks equity raise

** DFTX unveils $500 mln offering comprising stock and pre-funded warrants

** JP Morgan, Jefferies, Leerink and BofA joint lead bookrunners

** DFTX's stock soared 50% to close at $36.67 on Mon after co said its LSD-based drug, DT120, significantly reduced symptoms of major depression in patients in late-stage trial.

** Co intends to use net proceeds from equity offering for R&D of its product candidates, preparation activities for potential commercialization of DT120, among other purposes

** It has ~109.1 mln shares outstanding for $4 bln market cap

** All 16 analysts covering the stock are bullish including 6 "strong buy" ratings; median PT $50, per LSEG data