Landos Biopharma announces $16.7M private placement financing

Landos Biopharma "announced a $16.7M private placement financing from the sale of pre-funded warrants to purchase an aggregate of 30,909,090 shares of its common stock at a price per pre-funded warrant of $0.54 to entities associated with Perceptive Advisors LLC, Landos’ largest stockholder. The price per pre-funded warrant was based on the closing price per share of the Company’s common stock on January 4, 2023. Gross proceeds from the financing total approximately $16.7 million, before deducting offering expenses. The closing of the financing is subject to customary closing conditions and is expected to close on or before January 10, 2023. The Company anticipates using the net proceeds from the investment to advance the development of NX-13 and for other general corporate purposes. The Company estimates that the net proceeds from the financing, in addition to its existing cash, cash equivalents and marketable securities, will be sufficient to fund its planned operations into the first half of 2025."