Agenus (NASDAQ:AGEN) Shares Finish Just Two Cents Under Warrant Price Related to $170 Million
Agenus closed Friday at $5.01, with its main warrant series finishing two cents under the $5.03 exercise price.
Agenus Stock Soars 83%, but $255 Million of Its $340 Million Lifeline Is Still Conditional
Agenus Inc. shares closed 82.7% higher at $6.12 on Monday after the cancer-drug developer unveiled financing of up to $340 million for a pivotal colon-cancer study. The stock reached $8.70 and roughly 174 million shares changed hands. The regular U.S. session had not opened at the dateline; Nasdaq was scheduled to trade normally on Tuesday.
Agenus (NASDAQ:AGEN) Stock Rockets 59% Premarket—But Its $340 Million Lifeline Could Nearly Triple the Share Count
Agenus Inc. surged 59.4% to $5.34 in premarket trading on Monday after agreeing to an $85 million private placement, a stock sale to selected investors, with warrants that could lift gross proceeds to $340 million. Warrants give holders the right to buy additional shares at fixed prices. The move came before the 9:30 a.m. market open, while Nasdaq futures were down about 1%.
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