Pre­ci­sion on­col­o­gy biotech agrees to $72M cash in­fu­sion as it seeks to in­crease rev­enue

Al­most a year af­ter the FDA gave the green light to LA-based Aa­di Bio­science’s first drug, the biotech is look­ing to pri­vate in­vestors to keep it­self go­ing.

The on­col­o­gy play­er an­nounced Thurs­day that it has en­gaged with both new and ex­ist­ing in­vestors in a PIPE fi­nanc­ing — sell­ing 3.3 mil­lion shares at $12.50 a share, the biotech’s clos­ing price at Nas­daq on Wednes­day. The com­pa­ny is al­so sell­ing off pre-fund­ed war­rants to pur­chase over 2.4 mil­lion more shares at $12.4999 per pre-fund­ed war­rant.

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