BUZZ-Jade Biosciences drops on $150 mln equity raise

Jefferies Financial Group Inc.
Jade Biosciences, Inc.

Jefferies Financial Group Inc.

JEF

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Jade Biosciences, Inc.

JBIO

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** Jade Biosciences' JBIO.O shares down 9.3% premarket to $15.96 after $150 mln follow-on priced

** Autoimmune diseases-focused biotech announced 10 mln shares at $15

** Offering price represents 14.7% discount to stock's last sale on Weds

** Waltham, Massachusetts-based JBIO, which has ~49.4 mln shares outstanding, intends to use net offering proceeds to fund clinical trials, preclinical studies, R&D, and for capex, among other purposes

** Jefferies, TD Cowen and UBS joint bookrunners

** At Weds close, JBIO stock up 14% YTD

** 6 analysts rate the stock "strong buy", the other 4 rate "buy"; median PT of $43.50 up from $24.50 a month ago, according to LSEG data


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