PDS Biotechnology Reports Initial Closing of Private Financing
MT Newswires Live
Sep 14
PDS Biotechnology (PDSB) said Monday it has raised about $11.3 million from an initial closing of a private financing, with Nant Capital leading the round.
The company said it sold shares, pre-funded warrants in lieu of such shares, and accompanying warrants in the placement.
PDS said it plans to use the proceeds for debt repayment, working capital and general corporate purposes.
The financing round also consists of a contingent milestone closing, which will be triggered by the submission of a phase 3 clinical trial protocol for PDS0301, the clinical-stage firm said.
Shares were down over 8% in late morning trading.
Price: 0.27, Change: -0.02, Percent Change: -8.34
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