ABL Bio Capital Raise of 140 Billion Won
On 2 July, ABL Bio (298380 KS) announced a capital raise worth 140 billion won.
The capital raise involves 5.77 million new shares (10.7% of outstanding shares post capital raise) at 24,229 won per share (current price is 24,150 won).
The proceeds from the capital raise will be used to develop next-generation ADCs (Antibody Drug Conjugates), including bispecific antibody ADCs.
Conclusion First
We have a positive view of ABL Bio's capital raise of 140 billion won. The proceeds from the capital raise will be used to develop next-generation ADCs (Antibody Drug Conjugates), including bispecific antibody ADCs.
Valuations are not cheap as it is currently trading at P/B of 18.2x. However, the company's ABL301 bispecific antibody candidate is being developed for treating neurodegenerative diseases, including Parkinson's disease which holds much promise.
On 2 July, ABL Bio (298380 KS) announced a capital raise worth 140 billion won. The capital raise involves 5.77 million new shares (10.7% of outstanding shares post capital raise) at 24,229 won per share (current price is 24,150 won).
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