MoonLake Immunotherapeutics Stock Drops Due to Secondary Share Offering
MoonLake Immunotherapeutics (NASDAQ: MLTX) experienced nearly a 6% decline in its stock price on Wednesday following the announcement of an upsized secondary share offering. The company plans to raise between $180 million and $200 million, which will be used for ongoing research and development as well as commercialization efforts for its drug candidate sonelokimab.
Topics: biotech dilution secondary_share_issuance