Reported Earlier, Terns Pharmaceuticals Prices Upsized $150.15M Public Offering Of 11,919,048 At $10.50/Share
Portfolio Pulse from Benzinga Newsdesk
Terns Pharmaceuticals has announced an upsized public offering, raising $150.15 million by selling 11,919,048 shares at $10.50 each. The funds will be used for research, clinical trials, and development of key product candidates, as well as for general corporate purposes.
September 11, 2024 | 6:24 am
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Terns Pharmaceuticals has successfully raised $150.15 million through an upsized public offering. The capital will be used to advance research and development of its key product candidates, potentially accelerating growth and innovation.
The successful capital raise provides Terns Pharmaceuticals with significant funds to invest in its product pipeline, which could lead to advancements and potential future revenue growth. This is likely to be viewed positively by investors, potentially driving the stock price up in the short term.
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