IN8bio Announces Purchase Agreement With Certain Investors To Raise Up To $46.9M In Private Placement
Portfolio Pulse from Benzinga Newsdesk
IN8bio, Inc. has entered into a purchase agreement with certain investors for a private placement to raise up to $46.9 million. The company plans to use the proceeds to advance its clinical programs, including trials for its drug candidates in patients with leukemia and solid tumors.
December 11, 2023 | 2:05 pm
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IN8bio, Inc. (INAB) has secured a private placement deal to raise $46.9 million, which is expected to fund its clinical programs and potentially enhance its financial stability and future growth prospects.
The announcement of a significant capital raise through a private placement is typically viewed positively by investors, as it provides the company with necessary funds to continue its operations and invest in its clinical programs. This is likely to be seen as a vote of confidence in IN8bio's potential and could lead to a short-term positive impact on INAB's stock price.
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