Why Apogee Therapeutics Stock Triumphed on Thursday
Apogee Therapeutics (NASDAQ: APGE) stock was the cure for many an ailing stock portfolio on the second-to-last trading day of the week. The company's shares got a boost from some encouraging news on the financing front, and they closed the day nearly 13% higher in value. It's an understatement to say this compared favorably to the S&P 500's (SNPINDEX: ^GSPC) 0.3% decline.
Apogee, a clinical-stage biotech that focuses on immunology and inflammation disorders, announced a new round of capital-raising. After market close Wednesday, it said it was floating a secondary issue of its common stock that could reap gross proceeds of around $300 million.
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Source Fool.com
