Ensysce Biosciences Announces $5M Registered Direct Offering And Concurrent Private Placement, Issuing 3.55M Shares Of Common Stock And Warrants At $0.47 Per Share; Proceeds To Support Development Of Abuse-Deterrent Opioid PF614-MPAR And Other Programs
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Ensysce Biosciences has announced a $5 million registered direct offering and a concurrent private placement, issuing 3.55 million shares of common stock and warrants at $0.47 per share. The proceeds will support the development of their abuse-deterrent opioid PF614-MPAR and other programs.
August 29, 2024 | 12:05 pm
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Ensysce Biosciences is raising $5 million through a direct offering and private placement, issuing 3.55 million shares at $0.47 each. The funds will be used for developing their abuse-deterrent opioid PF614-MPAR and other programs.
The issuance of new shares typically dilutes existing shareholders' equity, which can lead to a short-term decrease in stock price. However, the funds raised are intended to support the development of key programs, which could be beneficial in the long term.
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