InflaRx (IFRX) shares were down more than 18% in premarket activity Friday after the company said overnight it priced an offering of 8.25 million ordinary shares at $2 apiece.
The offering includes pre-funded warrants to purchase up to 6.75 million of the company's ordinary shares, the company said late Thursday, adding that the net proceeds will primarily fund the clinical development of pipeline candidates, including vilobelimab and INF904.
InflaRx granted underwriters a 30-day option to purchase up to 2.25 million additional shares. It is selling all the securities in the offering, which is expected to close on Feb. 18.
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