Compugen -20.5% after pricing 6M-share offering at 26% discount

|About: Compugen Ltd. (CGEN)|By:, SA News Editor

Compugen (CGEN -20.5%) plunges after pricing its public offering of 6M shares at $10.50/share, a discount of 26% to yesterday's $14.20 closing price.

Compugen shares ended last week at $11.60 but surged this week to challenge decade highs; the Israel-based biotech will raise nearly $60M in the offering, but at a punishing price to y new shareholders who bought into this week’s strength.