Capricor gains after $150 mln equity raise in wake of its soaring stock

Capricor Therapeutics' CAPR.O shares up 4.5% premarket at $26.55 after co capitalizes on its soaring stock by raising equity

San Diego, California-based biotech early Fri sells 6 mln shares at $25 for $150 mln gross proceeds

On Weds, CAPR shares surged 371% to an 8-year high after co said its experimental cell therapy, deramiocel, slowed the progression of Duchenne muscular dystrophy (DMD) in a late-stage trial

On Thurs, shares fell ~15% to $25.40

Co intends to use net offering proceeds for continued development and manufacturing of its product candidates, working capital and general purposes

Piper Sandler and Oppenheimer are joint bookrunners

CAPR has ~45.7 mln shares outstanding

All 10 analysts rate CAPR "strong buy" or "buy"; median PT of $44 up from $21.50 a month ago, per LSEG