Source: Knight Therapeutics Inc.
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  • Knight Therapeutics (GUD) has announced a Normal Course Issuer Bid (NCIB)
  • Between July 14, 2022 and July 13, 2023, the company may purchase up to 7,988,986 common shares for cancellation
  • Daily purchases will be limited to 49,251 common shares
  • Knight Therapeutics Inc. is a Canada-based pharmaceutical company
  • Knight Therapeutics Inc. (GUD) is down 0.186 per cent on the day, trading at C$5.37 per share at 2:15 pm ET

Knight Therapeutics (GUD) has announced a Normal Course Issuer Bid (NCIB). 

Under the bid, Knight Therapeutics proposes to purchase up to 7,988,986 common shares over the next 12 months.

As of June 30, 2022, there were a total of 114,623,079 common shares issued and outstanding.

Purchases may commence on July 14, 2022 and will conclude on July 13, 2023.  Daily purchases will be limited to 49,251 common shares. All common shares purchased will be cancelled.

Under its prior bid, the company purchased 10,267,956 common shares at an average price of $5.25 per share.

The company believes that the market price of Knight’s common shares may not always reflect the inherent value of the corporation and purchases of common shares under the bid represents an appropriate use of funds.

Knight Therapeutics Inc. is a Canada-based pharmaceutical company focused on acquiring and commercializing pharmaceutical products for Canada and Latin America.

Knight Therapeutics Inc. (GUD) is down 0.186 per cent on the day, trading at C$5.37 per share at 2:15 pm ET.

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