- ProMIS Neurosciences (PMN) has upsized its previously announced public offering from US$15 million to $17.5 million
- ProMIS intends to use the proceeds to advance its Alzheimer’s therapy PMN310 toward a first clinical trial and expand its portfolio of antibodies and patents
- The company expects the offering to close on or about August 24, 2021
- ProMIS is focused on developing antibody therapeutics for neurodegenerative diseases
- ProMIS Neurosciences (PMN) is down by 11.63 per cent and is currently trading at $0.19 per share
ProMIS Neurosciences (PMN) has upsized its previously announced public offering from US$15 million to $17.5 million.
The company will sell units for $0.16 each.
If the agent’s option is exercised in full, the offering will yield aggregate gross proceeds of up to $20.1 million.
Each unit consists of one common share and one-quarter of one common share purchase warrant.
Each warrant entitles the holder to purchase one common share for $0.21 for up to 60 months from the issue date, subject to acceleration.
ProMIS intends to use the proceeds to advance its lead Alzheimer’s therapy, PMN310, to the filing of an Investigational New Drug application to enable a first clinical trial, to expand its portfolio of antibodies and patents, and for general corporate purposes.
The company expects the offering to close on or about August 24, 2021.
ProMIS is a development stage biotechnology company focused on developing antibody therapeutics for neurodegenerative diseases.
ProMIS Neurosciences (PMN) is down by 11.63 per cent and is currently trading at $0.19 per share as of 11:02 am ET.
