NeuroBo Pharmaceuticals shares are trading lower after the company announced up to $70 million in concurrent private placement and registered direct offering priced at-the-market under Nasdaq rules.
Portfolio Pulse from Benzinga Newsdesk
NeuroBo Pharmaceuticals shares are trading lower after the company announced up to $70 million in concurrent private placement and registered direct offering priced at-the-market under Nasdaq rules.
June 24, 2024 | 12:09 pm
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NeuroBo Pharmaceuticals shares are trading lower after the company announced up to $70 million in concurrent private placement and registered direct offering priced at-the-market under Nasdaq rules.
The announcement of a significant private placement and registered direct offering often leads to a dilution of existing shares, which can negatively impact the stock price in the short term. The market's immediate reaction to the news has been a drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100