Polaryx Therapeutics Inc (NASDAQ:PLYX) stock is trading higher Thursday morning following an early announcement regarding its capital structure and clinical timeline. The clinical-stage biotechnology company confirmed the closing of a $10 million private investment in public equity (PIPE) financing round on Thursday.
Details Of The PIPE Financing
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The financing consisted of an aggregate of 2,502,696 shares of common stock. Investors locked in these shares at an average purchase price of approximately $4 per share. Polaryx stated it will not file a registration statement with the SEC registering the resale of these common shares.
Funding The SOTERIA Phase 2 Trial
