((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
June 13 – ** Shares of Replimune Group REPL.O rose 8.3% to $9.55 on Thursday, after the biotechnology company raised $100 million in a private placement
**REPL has increased 6 times in the last 7 sessions, achieving a 90% gain along the way
**The company announced Thursday that it would sell ~5.7 million shares at $8.82 and pre-funded warrants to purchase ~5.7 million shares at $8.819/warrants under a PIPE (private investment in public shares)
**The financing is led by an institutional investor specializing in life sciences, with participation from Redmile Group, RTW Investments, Boxer Capital and other institutional investors, including a leading mutual fund, said the society
**The company will use the funds to “scale up” for commercialization of RP1 in skin cancers, as well as for working capital and general purposes
** On Dec. 5, REPL plunged 45% to $6.75 after RP1, in combination with Regeneron’s antibody drug
REGN.O, Libtayo, failed in an intermediate phase study
** Replimune has ~61.4 million shares outstanding and ~56.8 million shares in the float – LSEG
**The company, which IPO’d in 2018 at $15, saw its shares trading as high as $54.85 (Nov 2020)
**Leerink acted as sole placement agent for the PIPE
