Notable News to Focus: Harpoon Therapeutics (NASDAQ:HARP)

by PromagzineTeam
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Harpoon Therapeutics (NASDAQ:HARP) stock observed trading -26.38% off 52-week high price. On the other end, the stock has been noted 79.36% away from low price over the last 52-weeks. The stock disclosed a move of 20.29% away from 50 day moving average and 22.17% away from 200 day moving average. Moving closer, we can see that shares have been trading 17.43% off 20-day moving average. It has market cap of $468.05M.

On Jan. 6, 2021, Harpoon Therapeutics (NASDAQ:HARP) reported the pricing of an underwritten public offering of 5,882,352 shares of its common stock at a price to the public of $17.00 per share. Harpoon Therapeutics expects that the gross proceeds from the sale of the shares will be approximately $100.0 million, before deducting underwriting discounts and commissions and offering expenses payable by Harpoon Therapeutics. In addition, Harpoon Therapeutics has granted the underwriters in the offering a 30-day option to purchase up to 882,352 additional shares of common stock at the public offering price. The offering is expected to close on January 11, 2021, subject to customary closing conditions.

Harpoon Therapeutics plans to use the net proceeds of the offering, together with other available funds, to fund the continued clinical development of HPN424 in metastatic castration-resistant prostate cancer, HPN536 in ovarian cancer and other solid tumors, HPN217 in multiple myeloma, and HPN328 for the treatment of small cell lung cancer and other neuroendocrine tumors expressing Delta-like canonical Notch ligand 3; to advance the development of other pipeline candidates, including HPN601; and for working capital and general corporate purposes.

SVB Leerink and Piper Sandler are acting as joint bookrunning managers for the offering. Baird and Truist Securities are acting as co-lead managers for the offering. Roth Capital Partners is acting as co-manager for the offering.

The USA based company Harpoon Therapeutics moved with change of -3.66% to $18.42 with the total traded volume of 177006 shares in recent session versus to an average volume of 152.81K shares. The stock was observed in the 5 days activity at 7.28%. The one month performance of stock was 36.04%. HARP’s shares are at 9.97% for the quarter and driving a 30.55% return over the course of the past year and is now at 10.90% since this point in 2018. The average volatility for the week and month was at 9.53% and 9.99% respectively. There are 25.08M shares outstanding and 22.57M shares are floated in market.

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