HRTX - Heron Therapeutics to raise $76.5M in stock and warrants offering
- Heron Therapeutics ( NASDAQ: HRTX ) plunged 10.1% down premarket after it entered into a securities purchase agreement to sell 16.1M shares at an offering price of $3.10/share, pre-funded warrants to purchase up to 8.55M shares at purchase price of $3.01/ pre-funded warrant in a private placement to a group of new and existing institutional investors.
- Gross proceeds of the private placement are expected to ~$76.5M.
- Private placement is expected to close on or about Aug.11, 2022.
- Net proceeds from the proposed private placement to support its acute care and oncology care commercial franchises, including accelerating the adoption of ZYNRELEF and preparing for the anticipated launch of HTX-019 for the prevention of postoperative nausea and vomiting ahead of the September PDUFA date, and for working capital and general corporate purposes.
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Heron Therapeutics to raise $76.5M in stock and warrants offering