ImmunityBio Prices 33.33 Mln Public Offering At $3.00 Per Share, Stock Down

ImmunityBio

2.62 USD -2.06%

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Kaufen / Verkaufen

(RTTNews) - ImmunityBio, Inc. (IBRX), an immunotherapy company, on Wednesday priced its previously announced underwritten public offering of 33.333 million shares at $3 per share for gross proceeds of $100 million. The offering is expected to close on or about December 12.

ImmunityBio intends to use the net proceeds to progress its continued commercialization of Anktiva for the treatment of BCG-unresponsive non-muscle invasive bladder cancer or NMIBC with carcinoma in situ or CIS with or without papillary tumors.

The proceeds will also be used for trials in BCG-naïve NMIBC and non-small cell lung cancer, research and development, working capital, and for general corporate purposes.

ImmunityBio has granted the underwriters a 30-day option to purchase up to an additional 5 million shares at the public offering price.

IBRX was down by 26.72 percent at $3.400 in the pre-market trade on the Nasdaq.