Virios Therapeutics Inc. (VIRI) has announced plans to issue and sell up to $2.1 million worth of its common stock through a public offering. The company aims to allocate the net proceeds from this offering towards initiating preparatory activities for its upcoming IMC-2 Long-COVID Phase 2b study, as well as for other general corporate purposes.
The completion of the offering is contingent upon market conditions, and there are no guarantees regarding the timing, size, or specific terms of the offering.
As of the close of regular trading on Friday, VIRI's stock had declined to $0.3514, marking a decrease of $0.0346 or 8.96%. In after-hours trading, the stock experienced a further decline, dropping $0.11 or 30.31%.