Home  »  Trendy Stocks   »  Vascular Biogenics Ltd. (VBLT) stock gains in the ...

Vascular Biogenics Ltd. (VBLT) stock gains in the pre-market session. Why is it so?

Vascular Biogenics Ltd. (VBLT) stock declined by 7.29% at the last trading close whereas the VBLT stock rises in the pre-market by 1.12% as of this writing. VBL Therapeutics, formerly Vascular Biogenics, is a clinical-stage biopharmaceutical company focusing on the discovery, development, and commercialization of first-in-class therapies for cancer and immune/inflammatory indications.


5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored



VBL has created three platform technologies:

  • A gene-therapy-based technology for treating newly established blood vessels with a cancer focus,
  • An antibody-based platform focusing MOSPD2 for anti-inflammatory and immuno-oncology applications, and the Lecinoxoids,
  • A group of small molecules for immune-related indications.

What is happening?

Today, VBLT confirmed the completion of its underwritten public offering of 6,901,790 ordinary shares, as well as pre-funded options to buy 8,050,000 ordinary shares in an underwritten public offering, at a public price of $1.90 per ordinary share and $1.89 per pre-funded warrant, to some holders. The pre-funded warrants enable holders who are restricted from owning VBLT shares above a defined ownership level (such as 4.99 percent or 19.99 percent) to invest additional funds. In fact, pre-funded warrants are the same as common stock without voting rights. VBL Therapeutics sold all of the shares in the offering.

Furthermore,

Before deducting underwriting incentives and commissions, as well as VBL Therapeutics’ sales costs, the Company received nearly $28.3 million in gross proceeds from the public offering. The net proceeds from the sale will be used by VBL Therapeutics for working capital and other general corporate purposes.

The offering’s bookrunning manager was Guggenheim Securities, LLC. Oppenheimer & Co. Inc. was also a joint bookrunner on the deal. Co-managers were Roth Capital Partners and JonesTrading Institutional Services LLC.

Leave a Comment

Your email address will not be published. Required fields are marked *

Most Popular

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Posts

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.