ContraFect to Get Another $3 Million Investment From Pfizer
May 26 2020 - 9:15AM
Dow Jones News
By Colin Kellaher
ContraFect Corp. on Tuesday said Pfizer Inc., one of its biggest
shareholders, will invest another $3 million through a private
placement.
The Yonkers, N.Y., biotechnology company said Pfizer agreed to
buy 674,156 common shares and a warrant to buy 505,617 shares in a
private placement slated to close on Wednesday.
ContraFect said the transaction is contingent upon the closing
of a $52.5 million public offering it announced last week.
Pfizer late last year bought about 11.1 million shares of
ContraFect at 27 cents apiece and currently holds a roughly 7.25%
stake in the company.
ContraFect said it will use the new funds from Pfizer to
continue Phase 3 trial of exebacase in Staph aureus bacteremia.
ContraFect shares rose 1.5% to $5.53 in early trading
Tuesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 26, 2020 10:00 ET (14:00 GMT)
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