© Reuters.
Shares of clinical-stage biopharmaceutical company, Aligos Therapeutics, have plunged to an all-time low of 59 cents, marking a 22% drop attributed to a recent $92 million private placement. The decline signifies a total loss of 35% since the beginning of the year.
The deal involves Aligos offering more than 31.4 million shares and prefunded warrants for up to 81 million shares. Accompanying these are warrants for another 56.1 million shares, each priced at 82 cents. These additional warrants carry an exercise price of 76 cents and are set to expire in October 2030.
Institutional investors and CEO Lawrence Blatt are partaking in this placement, which is expected to extend Aligos’ cash runway until the end of 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here
