Centessa Pharmaceuticals Prices $100 Million Public Offering by Investing.com

BOSTON and LONDON – Centessa Pharmaceuticals plc (NASDAQ:CNTA), a clinical-stage biopharmaceutical company, has priced its underwritten public offering of American Depositary Shares (ADS) at $9.25 each, with the expectation of raising approximately $100 million in gross proceeds. The company announced on Tuesday that it will offer 10,810,810 ADSs, each representing one ordinary share.

The offering is expected to close on or about April 26, 2024, subject to standard closing conditions. Centessa has also provided underwriters with a 30-day option to purchase up to an additional 1,621,621 ADSs at the public offering price, after underwriting discounts and commissions.

The joint book-running managers for the offering are Goldman Sachs, Leerink Partners, Evercore ISI, Guggenheim Securities and BMO Capital Markets. The ADSs are being offered by means of a registration statement on Form S-3, declared effective by the Securities and Exchange Commission (SEC) on July 12, 2022.

Centessa’s portfolio includes advanced programs in hemophilia, sleep-wake disorders and immuno-oncology, with a focus on its proprietary LockBody┬« technology platform. The company aims to develop transformative medicines for patients, potentially changing current treatment standards.

The risks involved in completing the proposed public offering and satisfying customary closing conditions are detailed in Centessa’s regulatory filings with the SEC, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Insights on InvestingPro

As Centessa Pharmaceuticals (NASDAQ:CNTA) launches its latest public offering, attentive investors are closely monitoring the company’s financial health and market performance. Second InvestirePro According to the data, Centessa’s market capitalization stands at a whopping $1.06 billion, reflecting a significant presence in the biopharmaceutical sector.

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Despite the company’s robust gross profit margin of 100% over the trailing twelve months as of Q4 2023, it is crucial to note that Centessa has not been profitable during this period, with a stunning operating profit margin of -2499.39 %. This is in line with one of the Professional investment tips indicating that analysts do not expect the company to be profitable this year. Furthermore, Centessa’s P/E ratio is currently negative at -7.20 and, when adjusted for the trailing twelve months, stands at -6.07, underscoring the challenges the company faces in achieving profitability.

On a positive note, the company’s shares have shown a strong performance over the past year, with a total price return of 109.21%. This is further supported by a 50.6% price increase over the past six months and a 25% increase over the past three months, suggesting solid near-term investment performance. Such dynamics could pique the interest of growth-oriented investors, especially considering that Centessa holds more cash than debt on its balance sheet, as highlighted by another Tip for InvestingPro.

Investors looking for deeper and additional analysis InvestirePro Suggestions you can find them on Centessa’s specific page at Investing.com/pro/CNTA. There are currently more than 10 additional suggestions available, which could provide valuable insights into Centessa’s future prospects. For those interested in an annual or biennial Pro and Pro+ subscription, use the coupon code PRONEWS24 to get an additional 10% discount.

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