Kintara Therapeutics shares are trading higher after the company announced that it is seeking withdrawal of the registration statement and does not intend to pursue the contemplated public offering of securities.
Portfolio Pulse from Benzinga Newsdesk
Kintara Therapeutics has decided not to proceed with its previously contemplated public offering of securities, leading to an increase in its share price. The company has officially requested the withdrawal of the registration statement related to this offering.
March 13, 2024 | 5:11 pm
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POSITIVE IMPACT
Kintara Therapeutics' decision to cancel its planned public offering and withdraw the registration statement has led to a positive reaction in its share price.
The withdrawal of the public offering plan by Kintara Therapeutics is likely seen by investors as a positive development, possibly due to the avoidance of potential dilution of existing shares. This decision has directly resulted in an increase in the company's share price, reflecting investor approval and relief.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100