Corbus Pharmaceuticals Holdings Inc. (CRBP) has announced its plan to issue and sell its common shares or, for specific investors, offer pre-funded warrants as an alternative to buy its common shares. This will be made available in a public offering. It's important to note that all securities within this offering will be sold by Corbus itself.
The pharmaceutical company has further explained that the revenues from the proposed public offering will be utilized to finance the clinical development of its pipeline. In addition, funds will also be directed towards working capital and a range of other general corporate operations.
In recent stock market activity, CRBP closed regular trading on Tuesday at $25.16, exhibiting a remarkable increase of $6.54 or 35.12%. During after-hours trading, the stock continued its upward trajectory, gaining an additional $3.34 or 13.28%.
