CBAY - CymaBay stock pops 7% after launching stock and warrants offering
- CymaBay Therapeutics ( NASDAQ: CBAY ) +7.6% aftermarket on Monday announced that it has commenced an underwritten public offering of its common stock and pre-funded warrants.
- All shares of common stock and pre-funded warrants to be sold in the offering will be offered by CymaBay.
- CymaBay intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the shares of its common stock offered in the public offering.
- The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
- CymaBay anticipates using the net proceeds from the offering to fund ongoing development of seladelpar, including clinical trials targeting market expansion, and for working capital and general corporate purposes.
- Piper Sandler, Raymond James and Cantor are acting as the joint book-running managers for the offering.
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CymaBay stock pops 7% after launching stock and warrants offering