CALT - Calliditas halts proposed global offering

Calliditas Therapeutics AB (CALT) has announced that the company has terminated the previously announced proposed global offering due to deterioration in market conditions."Calliditas is well capitalized with a cash runway into Q3 of 2022 and we believe there are financing options which are more attractive than an equity issuance in the present volatile market circumstances,” said Calliditas CEO Renée Aguiar-Lucander.“Following the sudden and significant market deterioration seen yesterday, we no longer believe that it is in the interest of the company and its current shareholders to pursue the financing at this time," CEO added further.Calliditas shares dropped ~11.2% yesterday after the company announced an equity offering of 4.5M common shares plus a potential over-allotment option of 15% of the common shares.

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Calliditas halts proposed global offering