Im­mu­ni­ty­Bio, Coda­genix and Eu­Men­tis raise funds, while a biotech SPAC dis­solves

While Im­mu­ni­ty­Bio is in­volved in ar­bi­tra­tion with Sor­ren­to Ther­a­peu­tics, which filed for bank­rupt­cy this week to pro­tect from the po­ten­tial cap­i­tal bur­den, the Cal­i­for­nia biotech is pulling to­geth­er $50 mil­lion.

The di­rect of­fer­ing could ex­pand up to an­oth­er $60 mil­lion if the undis­closed “mul­ti­ple in­sti­tu­tion­al in­vestors” ex­er­cise the full op­tions on war­rants, Im­mu­ni­ty­Bio said Wednes­day morn­ing. The stock $IBRX slipped about 6% af­ter the open­ing bell.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.