From clin­i­cal fail to rais­ing cash? Virios goes for pub­lic of­fer­ing as shares reach all-time low

Af­ter a mas­sive Phase IIb fail, an­tivi­ral biotech Virios is scram­bling to bring in ex­tra cap­i­tal — all while the biotech’s shares have now reached their low­est point so far.

In the wake of dis­clos­ing its clin­i­cal tri­al fail­ure ear­ly Mon­day, Virios an­nounced lat­er that day that it was go­ing for a pub­lic of­fer­ing. While the com­pa­ny’s first state­ment didn’t say much, the biotech said that it plans to use the mon­ey raised to fur­ther ad­vance the biotech’s can­di­date that failed, IMC-1, through clin­i­cal de­vel­op­ment and set some aside for work­ing cap­i­tal.

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