Concert Pharmaceuticals raises $66.4M through share offering and warrant exercise
Jun. 06, 2022 4:07 PM ETConcert Pharmaceuticals, Inc. (CNCE)By: Preeti Singh, SA News Editor
- Concert Pharmaceuticals (NASDAQ:CNCE) has raised $66.4M in gross proceeds through its previously announced underwritten public offering of 10M shares and exercise of warrants.
- Each share was offered at $4.75.
- Aggregate gross proceeds to Concert from this offering were $47.5M.
- The pharma firm also received $18.9M upon the exercise of tranche 1 warrants to purchase 3,981 shares of Series X1 Preferred Stock issued to BVF Partners and RA Capital Management in Nov 2021.
- Shares have slipped ~2% in extended trading