Why Aligos Therapeutics (ALGS) Stock Is Nosediving
Portfolio Pulse from Henry Khederian
Aligos Therapeutics Inc (NASDAQ:ALGS) shares dropped by 15.8% after the company announced $92 million in private placement financing. The funding, led by a life sciences investment firm and involving various institutional investors, including Armistice Capital and Roche Venture Fund, will support the development of Aligos' drug candidates and research for expanding their drug pipeline. The company believes this funding will sustain its operations through 2025.
October 23, 2023 | 5:44 pm
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Aligos Therapeutics' stock price dropped significantly after the announcement of a $92 million private placement financing. This funding is expected to support the company's operations through 2025.
The announcement of the private placement financing led to a drop in Aligos Therapeutics' stock price. This is likely due to the dilution of shares that comes with such financing. However, the funding is expected to support the company's operations and drug development, which could potentially have positive long-term effects.
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