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.
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