UNCY - Unicycive rises on terminating at-the-market stock offering program
- Unicycive Therapeutics ( NASDAQ: UNCY ) stock rose ~8% on Thursday after the company said it terminated its "at-the-market" (ATM) equity offering program with JonesTrading Institutional Services as sales agent.
- Unicycive added that it elected to terminate the offering to limit uncertainty and unfavorable dilution for its shareholders.
- Unicycive has started the 10-day termination process which will take effect on Jan. 8, 2023.
- The company noted that it will make no sales under the ATM offering during this period and that there have been no sales under the program since Dec. 15.
- On Wednesday, the company had announced that its bioequivalence study for kidney disease drug Renazorb had met its main goal.
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Unicycive rises on terminating at-the-market stock offering program