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Fly News Breaks for April 24, 2019
EIGR
Apr 24, 2019 | 07:39 EDT
Wedbush analyst Liana Moussatos lowered her price target for Eiger BioPharmaceuticals to $35 from $43 due to financing share dilution. The analyst notes that Eiger recently announced pricing of a follow-on offering to raise approximately $49.50M. Moussatos estimates net proceeds of $44.55M and project cash runway into Q1 of 2021, which covers important clinical, regulatory and commercial activities. She reiterates an Outperform rating on the shares.
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