$150M Offering Priced at Premium to Market, Extending Cash Runway After FDA Approval
REPL has more than doubled off its 52-week low of $1.5.
Summary
Replimune priced a $150 million underwritten offering just three days after securing FDA accelerated approval for TUDRIQEV in advanced melanoma. The deal includes 9.7 million shares at $12.06 and 2.7 million pre-funded warrants at $12.0599, a premium to the $12.63 market price — signaling strong institutional demand. This follows the going concern warning in the June 10-K, where cash was only sufficient into Q1 2027. The raise materially extends the runway to support the commercial launch and ongoing pipeline development. Closing is expected August 11.
Updates
· SEC 4 — Baker Bros. Advisors acquired 2,736,340 pre-funded warrants at $12.0599 each, totaling $33.0 million, in the offering that closed August 11.
· Dow Jones Newswires — Shares jumped 15% to $13.81 after pricing.
At the time of this announcement, REPL was trading at $12.63 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1B. The 52-week trading range was $1.50 to $13.90. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.