Akari Therapeutics stock dips on launch of $4M ADSs offering
- Akari Therapeutics (NASDAQ:AKTX) shares fell 5% on Thursday after the biotechnology company launched an offering to raise around $4M in gross proceeds.
- The firm entered into definitive agreements with certain institutional investors and accredited investors to offer 26.7M registered ADSs at a purchase price of $0.15/ADS.
- The offering participation by Akari's board members, including its president and CEO Rachelle Jacques.
- Offering is expected to close around March 31, 2023.
- Net proceeds are expected to support advancement of Akari's (AKTX) two priority pipeline programs investigating nomacopan, a bispecific recombinant inhibitor of complement C5 and leukotriene B4.