OBSV - ObsEva readies $50 million worth common stock offering

ObsEva ([[OBSV]] +9.3%) has entered into a sales agreement with SVB Leerink to sell the common stock for total gross proceeds of up to $50M, the company has said in a regulatory filing.SVB Leerink will be the sales agent for at the market offering where the company expects to sell the common stock from time to time at a par value of 1/13 per share.ObsEva shares have gained ~54.8% in the year so far, and the company’s cash and equivalents have dropped to $31.2M as of 2020 year-end compared to $69.4M a year ago.

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ObsEva readies $50 million worth common stock offering