Immunic (IMUX) said late Wednesday that it started an underwritten public offering of securities.
The offering includes pre-funded warrants to purchase shares, series A warrants expiring Dec. 31 and series B warrants expiring after five years, the company said.
The company said series A and B warrants will expire proportionally as the related pre-funded warrants are exercised by Sept. 30.
Net proceeds will fund clinical trials and operations, and general corporate purposes, Immunic added.
Shares of the company fell 11% in recent after-hours activity.
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