Ideaya Biosciences Said From Jan 4 To Jan 11, Sold 4.6M Shares For Net Proceeds Of $158.9M Under At-The-Market Offering Pursuant To June 2023 Agreement
Portfolio Pulse from Charles Gross
Ideaya Biosciences has sold 4.6 million shares between January 4 and January 11, resulting in net proceeds of $158.9 million. This sale was conducted under an at-the-market offering according to an agreement from June 2023.
January 12, 2024 | 11:16 am
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Ideaya Biosciences raised $158.9 million through the sale of 4.6 million shares via an at-the-market offering.
The sale of shares has increased Ideaya Biosciences' cash reserves, which could be used for further research and development, or operational expenses. This is generally a positive development, but the increase in share count could dilute existing shareholders' equity, potentially offsetting the positive impact on the stock price in the short term.
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