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Alpine Immune Sciences Stock Gains 13%

Shares of Alpine Immune Sciences, Inc. (ALPN) are gaining nearly 13% on Wednesday morning despite no stock-related news to drive the shares.

ALPN is currently trading at $11.05, up $1.25 or 12.76%, on the Nasdaq, on a volume of 390 thousand, above average volume of 97 thousand shares. The stock has traded between $7.21 and $16.37 in the 52 week period. The stock has gained over 40% in that time frame.

Last week, the clinical-stage immunotherapy company announced it has entered into a agreement for the sale of common stock in a private placement with certain institutional and other accredited investors for $91 million.

The private placement is being led by Frazier Life Sciences Public Fund with participation from Decheng Capital, BVF Partners, TCG X, Avidity Partners, OrbiMed, Omega Fund, and Logos Capital, among others.

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