Outlook Therapeutics Announced Private Placement Of Up To $172M To Advance ONS-5010
Portfolio Pulse from Benzinga Newsdesk
Outlook Therapeutics has announced a private placement deal worth up to $172 million to fund the advancement of ONS-5010. The deal includes up to $65 million in common stock and up to $107 million from the cash exercise of warrants, contingent on closing conditions. This capital raise involves top tier institutional investors and insiders.
January 23, 2024 | 1:05 pm
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Outlook Therapeutics' private placement of up to $172 million is aimed at advancing their ONS-5010 project. The deal includes sales of common stock and potential additional funds from warrant exercises.
The announcement of a significant capital raise is typically viewed positively as it provides the financial resources needed for product development. For Outlook Therapeutics, this funding is crucial for the advancement of ONS-5010, potentially leading to positive investor sentiment and a short-term increase in stock price.
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