(RTTNews) - IN8bio, Inc. (INAB), said on Friday, a biopharmaceutical company that's currently in clinical stages and working on T cell therapies for cancer and autoimmune diseases announced it had finalized a securities purchase agreement.
This private placement is anticipated to raise around $40.2 million before expenses. The financing, set at market price, includes an initial amount of roughly $20.1 million and involves both new and existing institutional investors as well as company directors and officers.
The net funds from the first closing are expected to support operations through the first half of 2027 and help with the IND-enabling studies for INB-619, in addition to regulatory efforts for the INB-200 and INB-400 glioblastoma programs.
INAB is currently trading at $1.36, down $0.02 or 1.45 percent on the Nasdaq.
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