2023-08-29 09:15:36 ET
Clinical-stage biopharmaceutical company Inhibrx ( NASDAQ: INBX ) entered into a securities purchase agreement for a private placement financing that is expected to result in gross proceeds of ~$200M.
In the PIPE, Inhibrx ( INBX ) is selling an aggregate of ~3.62M shares at a price of $19.35 per share, and pre-funded warrants purchase up to an aggregate of 6.71M shares at a purchase price of $19.3499 per pre-funded warrant.
The PIPE is expected to close by August 31, 2023.
The stock price is up 1.2% in the early hours of Tuesday.
More on Inhibrx
- Inhibrx wins FDA fast track tag for lung disease candidate
- Inhibrx's drug for rare bone cancer shows promise in ongoing phase 1 study
- Inhibrx stock soars 33% on potential accelerated approval path for INBRX-101 after FDA discussions
For further details see:
Inhibrx up 1.2% on $200M private placement