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2 years ago
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By Dean Seal
Axcella Therapeutics Inc. said Thursday it has closed a $34.2 cardinal nonstop offering and appointed 2 caller committee members, 1 of whom volition beryllium chairman.
The biotechnology institution said Robert Rosiello and Torben Straight Nissen person joined its committee of directors, with Mr. Rosiello slated to regenerate David Epstein arsenic chairman. Mr. Epstein volition stay astatine the institution arsenic a consultant.
Axcella said it has besides closed a registered nonstop offering of much than 20.8 cardinal shares astatine a acquisition terms of $1.64 apiece.
The offering volition effect successful proceeds of $34.2 million, which includes $6 cardinal successful canceled debt.
The institution said it would usage the proceeds of the offering to beforehand its Long Covid program, implicit enrollment for a objective proceedings addressing fatty liver disease, and for moving capital.
Shares roseate 3% to $1.69 successful premarket trading.
Write to Dean Seal astatine dean.seal@wsj.com
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English (US)