Healthcare Stocks On The Move: VIVE, CNST, CFMS

pharma 042517 01oct19

Shares of Viveve Medical Inc. (VIVE), a medical technology company focused on women's intimate health, are currently up over 16%, following the completion of the Company's at-the-market offering of $6.76 million of shares of its common stock with Ladenburg Thalmann & Co. Inc. as the sales agent.

The company sold 1 million shares at a weighted average price of $6.73 per share (adjusting for a reverse stock split of Viveve common stock effected September 18, 2019) resulting in net proceeds of approximately $6.56 million.

A one-for-100 reverse stock split of the common stock was effected on September 18, 2019. As of September 30, 2019, the company had 1,469,589 shares outstanding.

VIVE is currently up 17.91% trading at $5.20.

Constellation Pharmaceuticals Inc. (CNST) has entered into a securities purchase agreement with a group of institutional investors for the private placement of $65 million of shares of its common stock.

In this private placement, the Company is selling 7.65 million shares of common stock at a price of $8.50 per share. The private placement is being led by Venrock Healthcare Capital Partners and includes Bain Capital Life Sciences and affiliates of The Column Group.

The transaction is expected to close on or about October 3, 2019, subject to the satisfaction of customary closing conditions.

The Company's clinical drug candidates include CPI-0610, under a phase II trial in myelofibrosis, dubbed MANIFEST, and a phase 1b/2 clinical trial of CPI-1205 in patients with metastatic castration-resistant prostate cancer (mCRPC) in the second-line setting, dubbed ProSTAR.

Constellation Pharma is slated to make a presentation at the Cantor Global Healthcare Conference in New York on Friday, October 4.

CNST is currently up 17.96% trading at $7.62.

Conformis Inc. (CFMS) has entered into definitive agreements to sell and license to Stryker Corp. (SYK), certain assets relating to Conformis' patient-specific instrumentation (PSI) technology, and to develop, manufacture, and supply PSI for use in connection with Stryker's knee implant offerings.

The agreement entitles Conformis to receive $14 million up-front and up to an additional $16 million in milestone payments for selling, licensing, and developing part of its intellectual property portfolio to Stryker in order to design, manufacture, and commercialize PSI for use in Stryker's knee implant offerings, including the market-leading Triathlon Total Knee System.

Conformis has also entered into a long-term distribution agreement with Stryker, under which Conformis will supply PSI to Stryker.

CFMS is currently up 32.25% trading at $2.46.

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