Gain Therapeutics Secures $11 Million in Public Offering
Gain Therapeutics, a biotechnology company focused on developing novel therapeutics for rare genetic diseases, has announced the pricing of a public offering that will provide the company with $11.0 million in funding.The offering includes 7,116,547 shares of common stock priced at $1.35 per share, as well as pre-funded warrants for 1,031,602 shares of common stock.The pre-funded warrants are immediately exercisable at $0.0001 per share.
The decision to issue additional shares of common stock comes after Gain Therapeutics previously announced its intention to offer more shares in a public offering.The company has stated that it plans to offer up to 15% of additional shares to the underwriter, with all securities being offered directly by Gain Therapeutics.
With a total of 17.978951 million shares outstanding and a current stock price of $2.11, the public offering will have a significant impact on the company’s financial position.The funds raised through the offering will likely be used to further research and development efforts, as Gain Therapeutics continues to advance its pipeline of potential treatments for rare genetic diseases.
Overall, the successful pricing of the public offering demonstrates investor confidence in Gain Therapeutics and its innovative approach to drug development.The company’s ability to secure $11.0 million in funding will undoubtedly support its mission to bring novel therapies to patients in need.
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