Stock Falls 11% in After-Hours Trading

  • Cibus shares decline after announcing underwritten public offering
  • Stock falls 11% in after-hours trading
  • Shares down 74% since the beginning of the year
  • Existing investors and CEO may purchase shares
  • Roth Capital Partners and A.G.P./Alliance Global Partners act as joint bookrunning managers
  • Proceeds to fund development and improvement of seed traits

Shares of Cibus, a San Diego biotech company, declined after announcing its intention to offer Class A common stock in an underwritten public offering. The move led to an 11% drop in the stock price during after-hours trading on Tuesday, following a 1.7% decline in regular session trading that left shares at $5.06 – down 74% since the start of the year. Cibus did not disclose details about the offering’s timing, terms, or size but mentioned existing investors and its CEO may purchase shares. Roth Capital Partners and A.G.P./Alliance Global Partners will act as joint bookrunning managers for the offering. Proceeds from the offering will be used to fund further development of new seed traits and improve existing ones.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about a company’s stock performance and its plans for an underwritten public offering, including details on the involvement of joint bookrunning managers and intended use of proceeds from the offering.
Noise Level: 3
Noise Justification: The article provides relevant information about a specific company’s stock performance and its plans for an offering, but lacks analysis or context on broader trends or implications.
Public Companies: Cibus ()
Key People: CEO (CEO)

Financial Relevance: Yes
Financial Markets Impacted: Cibus’ stock price and the biotech industry
Financial Rating Justification: The article discusses Cibus’ decision to offer shares of its Class A common stock in a public offering, which impacts the company’s stock price and potentially affects the biotech industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in this article.
Move Size: 11%
Sector: Healthcare
Direction: Down
Magnitude: Large
Affected Instruments: Stocks

Reported publicly: www.marketwatch.com