Qualigen Therapeutics shares are trading lower after the company announced a $3.46 million public offering of 14,724,058 shares at $0.13 per share and pre-funded warrants.
Portfolio Pulse from Benzinga Newsdesk
Qualigen Therapeutics shares fell following the announcement of a $3.46 million public offering, involving 14,724,058 shares at $0.13 per share and pre-funded warrants.
September 05, 2024 | 1:26 pm
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Qualigen Therapeutics announced a $3.46 million public offering, issuing 14,724,058 shares at $0.13 per share, leading to a decline in its stock price.
The announcement of a public offering typically leads to a decrease in stock price due to dilution concerns. The offering price of $0.13 per share is likely below the current market price, contributing to the negative sentiment.
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