ETTX - Entasis completes initial closing of $20M private placement with Innoviva

Clinical-stage biopharmaceutical company Entasis Therapeutics Holdings (ETTX) has completed the initial closing of an ~$7.5M stock and warrant issuance to a subsidiary of Innoviva (INVA). Upon satisfaction of certain closing conditions, Innoviva will purchase the balance of the $20M in Entasis shares and warrants in a second closing anticipated in the second quarter of 2021.Entasis plans to use proceeds to support the continued development of its pipeline of pathogen-targeted antibacterial product candidates and for general corporate purposes.

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Entasis completes initial closing of $20M private placement with Innoviva