Intensity Therapeutics prices 5M shares at 80c in registered direct offering

Intensity Therapeutics (INTS) announced that it has entered into a securities purchase agreement with a new long-term fundamental investor for the purchase and sale of 5M shares of common stock at a purchase price of 80c per share, in a registered direct offering, for gross proceeds of approximately $4M, before deducting placement agent commissions and other offering expenses. The offering is expected to close on or about November 3, subject to the satisfaction of customary closing conditions. The company expects to use the net proceeds from the offering for the advancement of their clinical trials, working capital and general corporate purposes. Upon closing of the offering, the company expects it will have cash runway until the end of the first quarter of 2027. A.G.P./Alliance Global Partners is acting as the sole placement connection with the offering.