Compugen Rising Despite Offering (CGEN)

Posted in pre-market 
December 30th, 2009

Compugen Ltd. (NASDAQ: CGEN) is actually trading up after the company announced that it has raised proceeds of roughly $20 million to complete its previously announced Controlled Equity Offering facility. A total of approximately 4.1 million ordinary shares were sold at a weighted average price of approximately $4.91 per share upon completion. Shares closed at $4.62 yesterday and the 52-week trading range is $0.39 to $5.86.  At 8:25 AM EST we have shares trading up 4.3% at $4.82 and the pre-market volume is already 140,000 shares.

JON C. OGG

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