News Spotlight: Leap Therapeutics (Nasdaq: LPTX)

Leap Therapeutics (Nasdaq: LPTX) stock identified change of -15.25% away from 52-week low price and recently located move of -85.37% off 52-week high price. It has market worth of $20.57M. LPTX stock has been recorded -48.51% away from 50 day moving average and -75.56% away from 200 day moving average. Moving closer, we can see that shares have been trading -43.50% off 20-day moving average.

Leap Therapeutics (Nasdaq: LPTX) declared the pricing of an underwritten public offering of 6,571,428 shares of its common stock and warrants to purchase up to 6,571,428 shares of its common stock. Each share of common stock is being sold together with a warrant to purchase one share of common stock for a combined offering price of $1.75 per share and accompanying warrant. The warrants will be exercisable commencing on the date of issuance, will expire seven years from the date of issuance, and have an exercise price of $1.95 per share, subject to certain adjustments. The gross proceeds to Leap from this offering are expected to be approximately $11.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Leap and excluding the proceeds from the exercise of any warrants. All shares of common stock and warrants to purchase common stock to be sold in the offering are being sold by Leap. The shares of common stock and warrants are being purchased together but will be issued separately and will be immediately separable upon issuance. In addition, Leap has granted to the underwriters a 30-day option to purchase up to an aggregate of an additional 985,714 shares of its common stock offered in the public offering and/or warrants to purchase up to 985,714 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on February 5, 2019, subject to satisfaction of customary closing conditions.

Raymond James & Associates and Ladenburg Thalmann are acting as book-running managers for the offering.

Leap intends to use the net proceeds from the offering for general corporate purposes, which may include, without limitation, funding new clinical trials of DKN-01 and TRX518 and the continuation of ongoing studies, capital expenditures, working capital and general and administrative expenses.

 The Healthcare sector company, Leap Therapeutics noticed change of -23.08% to $1.5 along volume of 2466828 shares in recent session compared to an average volume of 74.35K. The stock observed return of -48.98% in 5 days trading activity. The stock was at -38.52% over one month performance. LPTX’s shares are at -66.67% for the quarter and driving a -77.54% return over the course of the past year and is now at -25.00% since this point in 2018. 

 The average volatility for the week at 17.09% and for month was at 15.86%. There are 13.71M shares outstanding and 13.22M shares are floated in market.

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