Decoy Therapeutics, Inc., a biotechnology company, has announced a private placement financing of up to $21 million. The financing is expected to provide approximately $3.5 million in gross proceeds at closing, before deducting placement agent’s fees and other financing expenses payable by the Company.
The Company intends to use the net proceeds to advance its lead asset into clinical trials. Decoy Therapeutics is pioneering Designable Multi-Antivirals (D-MAVs), a new category of antivirals engineered to target shared viral mechanisms conserved across virus families.
The financing consists of $3.5 million of upfront gross proceeds at a purchase price of $5.91 per share from the sale of common stock, as well as milestone-based warrants with potential additional aggregate gross proceeds of approximately $17.5 million if fully exercised.
Original reporting: KTBS 3 (Shreveport) — read the source article.
