Virios Therapeutics Announces $2.1M Proposed Public Offering Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Virios Therapeutics (NASDAQ:VIRI) announced a proposed public offering of $2.1 million in common stock to fund its IMC-2 Long-COVID Phase 2b study and for general corporate purposes. Maxim Group LLC is acting as the sole placement agent.
May 17, 2024 | 8:11 pm
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Virios Therapeutics announced a $2.1 million public offering of common stock to fund its IMC-2 Long-COVID Phase 2b study and general corporate purposes. The offering is subject to market conditions.
The announcement of a public offering typically leads to a short-term decrease in stock price due to dilution concerns. However, the funds will be used for important research and corporate purposes, which could be beneficial in the long term.
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