Sonnet BioTherapeutics shares are trading lower after the company announced pricing of a $4.55 million underwritten public offering.
Portfolio Pulse from Benzinga Newsdesk
Sonnet BioTherapeutics has announced the pricing of a $4.55 million underwritten public offering, leading to a decrease in its share price.
October 25, 2023 | 2:59 pm
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NEGATIVE IMPACT
Sonnet BioTherapeutics' share price is expected to be negatively impacted in the short term due to the announcement of a $4.55 million underwritten public offering.
The announcement of a public offering often leads to a decrease in share price as it dilutes the value of existing shares. In this case, Sonnet BioTherapeutics' announcement of a $4.55 million underwritten public offering has led to a decrease in its share price, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100