Leap Therapeutics (NASDAQ:LPTX) stock identified change of 193.30% away from 52-week low price and recently located move of -51.79% off 52-week high price. It has market worth of $26.71MM. LPTX stock has been recorded 70.65% away from 50 day moving average and 14.19% away from 200 day moving average. Moving closer, we can see that shares have been trading 68.10% off 20-day moving average.
On Jan. 7, 2020, Leap Therapeutics (NASDAQ:LPTX) a biotechnology company focused on developing targeted and immuno-oncology therapeutics, declared the closing of its previously announced equity financing to issue 1,421,801 shares of newly designated Series A mandatorily convertible preferred stock to a lead institutional investor, at a price of $10.54 per share, and an aggregate of 1,137,442 shares of newly designated Series B mandatorily convertible preferred stock to BeiGene and Perceptive Advisors, at a price of $10.55 per share. The preferred stock price reflects a common stock equivalent price of $1.055 per share, the closing price for Leap’s common stock on the Nasdaq Global Market on the day of pricing, January 2, 2020 and, in the case of the Series A mandatorily convertible preferred stock, reflects a per share reduction equal to the exercise price of the pre-funded warrant issued upon conversion of the Series A mandatorily convertible preferred stock. The holder of Series A mandatorily convertible preferred stock also received a share of a newly designated special voting preferred stock that will entitle it to elect one member of Leap’s Board of Directors.
Upon approval by the stockholders of Leap, the Series A mandatorily convertible preferred stock will automatically convert into pre-funded warrants to purchase 14,218,010 shares of common stock and the Series B mandatorily convertible preferred stock will automatically convert into 11,374,420 shares of common stock, plus that number of additional shares of common stock representing payment of an 8% per annum accruing dividend on each share of preferred stock as of the conversion date. Upon stockholder approval and conversion of the preferred stock, the investors will also receive warrants to purchase up to an equal number of shares of common stock at an exercise price of $2.11 per share. The aggregate gross proceeds to Leap from this offering are approximately $27 million, before deducting placement agent fees and estimated offering expenses payable by Leap, and excluding proceeds from the exercise of any warrants.
The Healthcare sector company, Leap Therapeutics noticed change of -10.16% to $1.68 along volume of 1026954 shares in Tuesday session compared to an average volume of 477.14K. The stock observed return of 49.19% in 5 days trading activity. The stock was at 113.69% over one month performance. LPTX’s shares are at 41.18% for the quarter and driving a -44.19% return over the course of the past year and is now at 50.00% since this point in 2018.
The average volatility for the week at 22.24% and for month was at 11.79%. There are 15.90M shares outstanding.
David Yen is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Business News category for our site. David Yen is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 5 years of investment experience; an M.B.A. from Louisiana State University and also certified in Risk Management Assurance.
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