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The latest announcement is out from Moleculin Biotech (MBRX).
Moleculin Biotech, Inc. has entered into an agreement with an institutional investor to sell over 2.7 million shares and warrants, with an expected closing date of August 19, 2024. The deal, priced at $2.23 per share, is anticipated to raise $5.5 million initially, potentially reaching $11 million if all warrants are exercised. The proceeds are earmarked for the advancement of the company’s clinical and preclinical drug development programs. H.C. Wainwright & Co. served as the placement agent, and the company has agreed to a 90-day restriction on additional stock or securities issuance post-closing.
See more insights into MBRX stock on TipRanks’ Stock Analysis page.