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Market Overview

Oncorus Secures $57M Via Equity At 9% Discount

  • Oncorus Inc (NASDAQ: ONCRprices of its underwritten public offering of 3 million common shares at $19 per share, raising $57 million in gross proceeds. The offer price represents a discount of 9% on the last close price of $20.97 on Thursday.
  • Underwriters have an option to purchase up to an additional 450,000 shares. The offering is expected to close on February 17
  • Jefferies, Evercore ISI, and Piper Sandler are acting as joint book-running managers for the offering.
  • Last month, Oncorus announced preclinical data for ONCR-177 that demonstrated potent and durable antitumor activity in multiple immune-competent tumor models.
  • Oncorus also announced building a viral immunotherapy clinical manufacturing facility in the U.S., with full operation commencing in early 2023.
  • Price Action: ONCR dipped 11.1% at $17.8 on the last check Friday.

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Posted-In: Biotech News Offerings Small Cap General

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