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By Chris Wack
Abeona Therapeutics shares were up 9% at $4.38 after the company said it has raised $25 million at-the-market from select existing investors, primarily to fund the initiation of its launch preparations in anticipation of its EB-101 Biologics License Application submission and potential approval.
The stock is down 9% in the past 12 months.
The company said it has entered into definitive agreements with certain existing institutional investors for the issuance and sale of 3.3 million shares and pre-funded warrants to buy 2.9 million shares at $4.03 a share.
The pre-funded warrants will be immediately exercisable and may be exercised at any time until the pre-funded warrants are exercised in full.
The offering is expected to close on or about Thursday.
Write to Chris Wack at [email protected]
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