ARTICLE | Finance

Recapping Agennix

Oncology play Agennix plans heavily dilutive rights offering to fund Phase III

September 20, 2010 7:00 AM UTC

Unless they participate in an upcoming rights issue slated to raise an amount almost equal to the company's market cap, existing shareholders in oncology play Agennix AG (Xetra:AGX) will be heavily diluted.

Prior to the offering, Agennix had 20.8 million shares outstanding. The company plans to raise up to €78.4 million ($100.5 million) in a rights issue of up to 20.6 million shares at €3.81, which is a 10% discount to the stock's close the day before the offering was announced...