IMV Ord Shs (NASDAQ:IMV) shares are trading lower Friday morning after the company announced a $9 million registered direct offering price at-the-market under Nasdaq rules.
What Else?
IMV says the company intends to use the net proceeds from the Offering to continue the clinical development of its lead product candidate, maveropepimut-S, in diffuse large B cell lymphoma (DLBCL), ovarian cancer, the completion of its ongoing basket trial and to continue the development of its proprietary drug delivery platform (DPX®) and for general corporate purposes.
The offering is expected to close on or about December 20, subject to the satisfaction of customary closing conditions.
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According to data from Benzinga Pro, IMV is trading lower by 24.7% to $2.74.
