Biotech investor Cormorant secures $150M for another SPAC deal [Yahoo! Finance]
BridgeBio Oncology Therapeutics, Inc. (BBOT)
Company Research
Source: Yahoo! Finance
A blank-check entity formed by biotechnology investor Cormorant Asset Management has raised $150 million in an initial public offering meant to support a future merger with a privately held company. The special purpose acquisition company or “SPAC,” called Helix Acquisition Corp. III, sold 15 million shares at $10 apiece, some 2.5 million more shares than it had previously projected. It began trading on the Nasdaq stock exchange Friday under the ticker symbol “HLXC.” Helix doesn't have a merger target just yet, nor has it engaged in any related talks. But it does intend to focus on “healthcare or healthcare-related industries,” according to its prospectus. With more than $2.4 billion under management as of Sept. 30, Cormorant is one of the biotech sector's prominent “crossover” investors that backs private as well as publicly traded drug companies. The firm has now taken three SPACs public since 2022, and found merger partners — Moonlake Immunotherapeutics and BridgeBio Oncology
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BBOT
News
- Helix Acquisition prices $150M initial public offering [Seeking Alpha]Seeking Alpha
- BridgeBio Oncology Therapeutics (NASDAQ:BBOT) is now covered by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>. They set a "sell (d+)" rating on the stock.MarketBeat
- BridgeBio Oncology Therapeutics (NASDAQ:BBOT) was upgraded by analysts at Raymond James Financial, Inc. to a "moderate buy" rating.MarketBeat
- BridgeBio Oncology Therapeutics Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)GlobeNewswire
- BBOT Announces New Clinical Data Advancing Its Portfolio of Three Innovative and Differentiated RAS and PI3Ka Pipeline ProgramsGlobeNewswire
BBOT
Sec Filings
- 1/27/26 - Form 8-K
- 1/26/26 - Form 4
- 1/23/26 - Form 424B4
- BBOT's page on the SEC website