BUZZ-Orchestra BioMed shares fall after launching equity offering

November 5 - ** Orchestra BioMed Holdings（OBIO.O/OBIO.O）shares fell 9.1% in after-hours trading to $5.11, after the company announced its planned equity offering

** OBIO, headquartered in New Hope, Pennsylvania, has launched (link) a stock offering; transaction size was not disclosed

** Piper Sandler and TD Cowen are acting as joint bookrunners

** The company plans to use the net proceeds for its atrioventricular interval modulation (AVIM) therapy for hypertension treatment, as well as for the Virtue Sirolimus AngioInfusion Balloon (SAB) for treating atherosclerotic arterial disease

** OBIO shares closed down 6.3% on Thursday at $5.62. The stock is up about 35% over the past three months

** According to the prospectus (link), as of November 4, the company had about 61.45 million shares outstanding, with a market capitalization of approximately $345 million

** According to data from LSEG, all seven analysts covering the stock are bullish; the median target price is $11

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