BUZZ-Vir Biotech slips after unveiling $200 mln stock offering plans
Reuters
12 hours ago
BUZZ-Vir Biotech slips after unveiling $200 mln stock offering plans
** Shares of Vir BiotechnologyVIR.O slip 5.2% to $9 post-market as it looks to raise equity after its stock soared in regular session
** VIR shares finished up 27.7% at $9.49 on Tues after co posted Q4 results beat and said plans to develop and commercialize its prostate cancer experimental drug with Japan's Astellas 4503.T
** San Francisco, California-based VIR announces $200 mln stock offering after the bell
** Goldman Sachs, Leerink, Evercore and Barclays joint bookrunners
** Co has ~139.5 mln shares outstanding for about $1.3 bln market cap
** All 10 analysts are bullish on VIR; median PT $17, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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