Biotech Company Compugen Down on Nasdaq Following $21 Million Direct Offering
The Israel-based cancer immunotherapy company intends to use the proceedings for product development
Israel-based cancer immunotherapy company Compugen Ltd. was down 3.75% on Nasdaq on Friday market close after announcing a $21 million registered direct offering of ordinary shares and warrants, at $3.95 per share. The offering is expected to close on Tuesday. Clinical-stage Compugen intends to use the funding for product development. In April, Compugen announced an exclusive license agreement with Anglo-Swedish pharmaceutical company AstraZeneca PLC.