ArriVent BioPharma falls on planned $75 mln stock sale

ArriVent BioPharma's AVBP.O shares down 4.7% post-market to $19.90 as co looks to raise equity

Newtown Square, Pennsylvania-based co announces $75 mln offering of shares and pre-funded warrants to buy shares

Co to use net proceeds to support activities for lead candidate, firmonertinib, its treatment for non-small cell lung cancer, and other pipeline programs, among other general purposes

Goldman Sachs, Citigroup and Guggenheim are jt bookrunners for offering

ArriVent has ~34.2 mln shares outstanding for ~$714 mln market cap

AVBP shares on Tues fell 4% to $20.89, extending YTD loss to ~22%

Of 8 analysts covering AVBP, recommendation breakdown is 4 "strong buy" or "buy", rest "hold and median PT is $40, LSEG data reflects