Yarrow Bioscience falls on $150 mln stock sale
YARW•Proceeds and transaction details
The company said it intends to use the net offering proceeds to fund R&D expenses for its pipeline and for general purposes, including working capital and capex.
Jefferies, TD Cowen and Guggenheim were joint bookrunners.
Recent corporate developments and trading
In late July, YARW completed its reverse merger with Vyne Therapeutics and announced the initiation of dosing of patients in a Phase 2a/2b trial evaluating YB-101, a potential treatment for Graves' disease and thyroid eye disease.
New Haven, Connecticut-based YARW has about 2.7 million shares outstanding.
Through Thursday, the stock was up about 52% over the past three months.
Shares fall after overnight follow-on pricing
Yarrow Bioscience's YARW.O shares were down 6.3% at before the bell on Friday after a overnight follow-on was priced.
