By Chris Wack
InflaRx shares dropped 29%, to $1.92, after the company priced an underwritten public offering of 8.3 million shares at $2 a share, and in lieu of shares to certain investors, pre-funded warrants to buy up to 6.75 million shares.
All ordinary shares and pre-funded warrants in the offering are being sold by the company.
The offering is expected to close Tuesday.
InflaRx has granted the underwriters a 30-day option to buy up to 2.25 million additional shares at the public offering price, less the underwriting discount.
The company intends to use the proceeds from the offering primarily to fund clinical development of its pipeline candidates, including vilobelimab and INF904, and for general corporate purposes.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 14, 2025 12:39 ET (17:39 GMT)
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