INKT - Why MiNK Therapeutics Stock Is Up 11% Monday | Benzinga
MiNK Therapeutics, Inc. (NASDAQ:INKT) shares are trading higher Monday after the clinical-stage biopharmaceutical company announced private placement financing of $5.8 million.
What Happened: On Monday, MiNK Therapeutics entered into a stock purchase agreement to sell securities in a private investment in public equity (PIPE) agreement. MiNK said it will sell 4.64 million shares at a price of $1.25 per share, representing a 25% premium to current prices.
The expected total of $5.8 million in financing is earmarked for accelerating the clinical trials of MiNK-215, the company’s leading allogeneic CAR-iNKT cell therapy targeting ...