CFRX - ContraFect under pressure on stock offering

ContraFect (CFRX) trades 8.4% down after hours on commencing an underwritten public offering of shares; underwriters granted 30-day option to purchase up to an additional 15% of the shares.Offer actual size, terms have not yet been disclosed.Net proceeds to be used for funding the completion of the exebacase Phase 3 development program for potential BLA submission, to fund a Phase 1/2 safety and efficacy trial for exebacase, to fund the acceleration of investigational new drug-enabling activities and a Phase 1a/1b trial of CF-370, an engineered gram-negative lysin directly targeting Pseudomonas aeruginosa, and for general corporate purposes.

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ContraFect under pressure on stock offering