Dermata Therapeutics shares are trading lower after the company announced a $3.5 million private placement of 1,912,569 shares of common stock and short-term series B warrants at $1.83 per share and accompanying series warrants.
Portfolio Pulse from Benzinga Newsdesk
Dermata Therapeutics shares fell following the announcement of a $3.5 million private placement involving 1,912,569 shares of common stock and short-term series B warrants priced at $1.83 per share.
September 17, 2024 | 11:56 am
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Dermata Therapeutics' stock price declined after the company announced a $3.5 million private placement of shares and warrants, indicating potential dilution concerns among investors.
The announcement of a private placement often leads to concerns about dilution, which can negatively impact the stock price. The $3.5 million placement at $1.83 per share suggests that the company is raising capital, possibly due to financial needs, which may worry investors about future dilution and financial stability.
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