Aridis Pharmaceuticals Inc ARDS shares are trading lower by 23.34% to $0.42 Tuesday morning after the company announced a $2.28 million registered direct offering.
The company has entered a definitive agreement for the issuance and sale of an aggregate of 6 million shares of the company's common stock at a purchase price of $0.38 per share.
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Aridis Pharmaceuticals currently intends to use the net proceeds from the offering for working capital and general corporate purposes.
According to data from Benzinga Pro, ARDS has a 52-week high of $2.77 and a 52-week low of $0.35.
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