(RTTNews) - MetaVia Inc. (MTVA) shares traded at $3.4050, down 39.03% or $2.18 lower, after the company announced the pricing of an $8.1 million underwritten public offering.
The offering consists of common stock and accompanying Series C and Series D warrants, priced at $3.10 per unit, with gross proceeds expected to total approximately $8.1 million before fees and expenses. MetaVia said the funds will be used for working capital and to advance its clinical pipeline, including the development of its obesity treatment candidate DA-1726. The underwriters were also granted a 45-day option to purchase additional shares and warrants.
On the day of the announcement, MTVA opened sharply lower, fell to intraday lows near $3.30, and traded significantly below its previous close of $5.58. The stock trades on the Nasdaq.
Trading volume spiked well above recent averages, highlighting heightened selling pressure following the capital raise announcement.
MetaVia's 52-week range is approximately $3.10 to $25.20, underscoring significant volatility tied to financing activity and clinical-stage biotech risk.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
