GT Biopharma shares are trading lower after the company announced a $3.2 million registered direct offering of 740,000 shares of common stock at $4.35 per share.
Portfolio Pulse from Benzinga Newsdesk
GT Biopharma shares are trading lower following the announcement of a $3.2 million registered direct offering of 740,000 shares of common stock at $4.35 per share.
May 21, 2024 | 4:14 pm
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GT Biopharma shares are trading lower after the company announced a $3.2 million registered direct offering of 740,000 shares of common stock at $4.35 per share.
The announcement of a direct offering typically dilutes existing shares, leading to a decrease in share price. The market's immediate reaction is a drop in GTBP's stock price.
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