Kineta shares are trading lower after the company announced a $3 million registered direct offering priced at-the-market under Nasdaq rules.
Portfolio Pulse from Benzinga Newsdesk
Kineta has announced a $3 million registered direct offering priced at-the-market under Nasdaq rules, causing its shares to trade lower.
October 04, 2023 | 1:03 pm
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NEGATIVE IMPACT
Kineta's stock price is trading lower due to the announcement of a $3 million registered direct offering.
The announcement of a registered direct offering often leads to a decrease in the stock price as it implies an increase in the number of shares, which can dilute the value of existing shares. In this case, Kineta's shares are trading lower following the announcement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100