Capricor Therapeutics launches equity offering following stock surge
Capricor Therapeutics' CAPR.O shares up 3.2% at $26.20 i n extended trading as it looks to raise equity
San Diego, California-based biotech firm commences stock offering without disclosing deal size
CAPR shares surged 371% to an 8-year high on Weds after co said its experimental cell therapy, deramiocel, slowed the progression of Duchenne muscular dystrophy (DMD) in a late-stage trial
Shares closed down 15.2% at $25.40 on Thurs
With ~45.7 mln shares outstanding, CAPR has ~$1.2 bln market cap
Co intends to use net offering proceeds for continued development and manufacturing of its product candidates, among other purposes
Piper Sandler and Oppenheimer are joint bookrunners
All 10 analysts are bullish on CAPR; median PT of $44 up from $21.50 a month ago, per LSEG
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