Vaccinex shares are trading lower after the company announced $6.2 million in gross proceeds from the exercise of warrants and the issuance of new warrants for common stock
Portfolio Pulse from Benzinga Newsdesk
Vaccinex shares fell after the company announced $6.2 million in gross proceeds from the exercise of warrants and the issuance of new warrants for common stock.
September 18, 2024 | 3:14 pm
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Vaccinex shares declined after the company reported $6.2 million in gross proceeds from warrant exercises and new warrant issuance, which may dilute existing shares.
The announcement of $6.2 million in gross proceeds from the exercise of warrants and issuance of new warrants suggests potential dilution of existing shares, leading to a negative impact on the stock price. Investors may be concerned about the dilution effect, causing the stock to trade lower.
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