Aileron Therapeutics shares are trading lower after the company announced the pricing of an underwritten registered direct offering of 4,273,505 shares and accompanying warrants at a combined offering price of $4.68.
Portfolio Pulse from Benzinga Newsdesk
Aileron Therapeutics announced the pricing of an underwritten registered direct offering of 4,273,505 shares and accompanying warrants at a combined offering price of $4.68, causing its shares to trade lower.
May 01, 2024 | 3:57 pm
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Aileron Therapeutics' stock is trading lower following the announcement of a direct offering of over 4 million shares and warrants at $4.68.
The announcement of a significant direct offering typically dilutes existing shares, leading to a decrease in share price as supply increases. The specific details of the offering, including the number of shares and the offering price, provide clear reasons for the expected negative impact on Aileron Therapeutics' stock price in the short term.
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