Moleculin Biotech Files Registration Statement for Public Offering; Shares Fall
Moleculin Biotech (MBRX) filed a registration statement Wednesday with the US Securities and Exchange Commission for the sale of shares and warrants to raise net proceeds of an estimated $9.1 million.The company said it proposes to sell up to 4.6 million common shares at an assumed offering price of $2.19 apiece. It is also offering 4.6 million prefunded warrants and 13.7 million common warrants.Each share is being offered together with three common warrants, each to purchase one share of common stock, the company said.Moleculin said it intends to use the net proceeds to advance its Annamycin chemotherapy drug through clinical development and for working capital.The offering is expected to close on Aug. 14, the company said.Shares of the company were down 36% in Wednesday trading.Price: $1.38, Change: $-0.81, Percent Change: -36.99%
