Vaccinex Announces Pricing Of $3.7M Private Placement For The Sale Of An Aggregate 3,838,544 Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Vaccinex, Inc. (VCNX) announced a $3.7 million private placement for the sale of 3,838,544 shares of common stock and warrants. The proceeds, along with funds from a previous offering, are expected to fully fund the SIGNAL-AD trial for Alzheimer's treatment through Q3 2024. The company's lead drug, pepinemab, targets neurodegeneration by inhibiting SEMA4D, showing promise in Alzheimer's and Huntington's disease treatments.
February 07, 2024 | 1:08 pm
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Vaccinex's $3.7M private placement aims to fund its Alzheimer's drug trial, potentially boosting investor confidence in its research and development capabilities.
The successful pricing of the private placement and the intended use of proceeds to fully fund the SIGNAL-AD trial through topline data release in Q3 2024 may increase investor confidence in Vaccinex's financial stability and the potential of its lead drug candidate, pepinemab. This could lead to positive short-term price movement as the market reacts to the news of secured funding and progress in critical clinical trials.
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