Instinct Bio Technical Company Holdings Inc.
(NASDAQ:BIOT) shares fell sharply in Tuesday's after-hours session after the biotechnology company announced a proposed equity purchase facility that could provide up to $150 million in funding over the next three years.
The stock closed Tuesday's regular session down 51.46% at $1.33 before declining another 20.30% in after-hours trading to $1.06.
The company is a biotechnology firm focused on regenerative medicine, longevity-related technologies and advanced therapeutic platforms.
It recently completed its business combination with Relativity Acquisition Corp. and now trades on the Nasdaq under the ticker BIOT.
