Small Cap Losers: IMVT, ORGN, ESTA
3:41 pm Monday, August 02nd, 2021
Immunovant Inc (NASDAQ: IMVT) stock fell 25% after the company announced that it received a $200 mln strategic investment from Roivant Sciences; co will use proceeds from the investment to advance the development of IMVT-1401 in multiple indications. Roivant has increased its ownership stake in co from 57.5% to 63.8%. the company and Roivant had explored a range of possible transactions during the past few months. Downgraded at Credit Suisse.
Artius Acquisition Inc (NASDAQ: ORGN) slid 8% after the company filed a notice of effectiveness for its form S-1; filed a prospectus relating to the issuance of an aggregate of up to 35,476,667 shares of its common stock by co, consisting of common shares issuable upon the exercise of certain warrants originally issued in connection with the IPO of Artius Acquisition, and for the offering and sale of up to 64,832,474 common shares by selling securityholders.
Establishment Labs Holdings Inc (NASDAQ: ESTA): In recent items, cardiopulmonary digital health company Eko today announced that Renee Gaeta has been appointed as its CFO; Gaeta previously served as co’s CFO and played a “key role” in co’s IPO. Co also announced that CEO and Founder Juan José Chacón-Quirós and Interim CFO and Head of Strategy and Investor Relations Raj Denhoy will participate at the UBS Genomics 2.0 and MedTech Innovations Summit later this month. The stock decreased 7%.
