BriaCell Therapeutics shares are trading lower after the company announced the pricing of a $5 million registered direct offering of 2,402,935 shares and warrants at a combined purchase price of $2 per share.
Portfolio Pulse from Benzinga Newsdesk
BriaCell Therapeutics shares are trading lower following the announcement of a $5 million registered direct offering of 2,402,935 shares and warrants at a combined purchase price of $2 per share.
May 15, 2024 | 4:36 pm
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BriaCell Therapeutics shares are trading lower after the company announced a $5 million registered direct offering of 2,402,935 shares and warrants at a combined purchase price of $2 per share.
The announcement of a registered direct offering typically leads to a dilution of existing shares, which can negatively impact the stock price in the short term. The offering price of $2 per share may also be perceived as undervaluing the company, contributing to the decline in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100