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ARDS - Aridis Pharmaceuticals announces proposed public stock offering; shares down ~30%
Aridis Pharmaceuticals Inc.
Aridis Pharmaceuticals ( NASDAQ: ARDS ) on Monday announced a proposed public stock offering.
Shares of the micro-cap biopharma were 29.7% lower at $0.85 in afternoon trading.
The company said it intends to use the net proceeds from the offering for clinical development of its product candidates, working capital and other general corporate purposes.
ARDS did not reveal the size of the offering or the number of shares it would offer.