Veru Announced Today The Pricing Of An ~$33M Underwritten Public Offering Of 45,833,333 Shares Of Its Common Stock At A Price To The Public Of $0.72/Share
Portfolio Pulse from Benzinga Newsdesk
Veru Inc. has priced an underwritten public offering of approximately 33 million dollars, issuing 45,833,333 shares at $0.72 each. The proceeds will primarily fund a Phase 2b clinical trial for enobosarm, aimed at treating sarcopenic obesity in the elderly, and will also cover working capital and other general corporate purposes.
December 14, 2023 | 2:05 pm
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Veru Inc. is raising funds through a public offering to support its enobosarm clinical trials and general corporate needs, which may dilute current shareholders but also indicates progress in drug development.
The announcement of a public offering typically leads to short-term downward pressure on a stock due to dilution concerns. However, the purpose of the offering is to fund clinical trials, which could be seen as a positive development in the company's pipeline. The net impact on the stock price could be neutral in the short term as the market balances these factors.
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