- Aytu BioPharma ( NASDAQ: AYTU ) shares plunged 17% in Monday's extended trading after the therapeutics firm launched an underwritten public offering of shares of its common stock, pre-funded warrants to purchase shares of its common stock, and accompanying warrants to purchase its common stock.
- Terms of the offering are yet to be determined.
- The company plans to use the net proceeds from the offering for advancing the development of its pipeline assets, including for advancing the PREVEnt Trial evaluating AR101 for the treatment of vascular Ehlers-Danlos Syndrome, for growth of its commercial business and for working capital and general corporate purposes.
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Aytu BioPharma stock slides on securities offering