Biotech Company Compugen Down on Nasdaq Following $21 Million Direct Offering

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.

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