Bio-Path Shares Pare Gains on Registered Direct Offering News

Dow Jones04-19

By Josh Beckerman

Bio-Path Holdings shares pared their gains after the biotechnology company announced a $1.2 million registered direct offering.

The stock more than doubled after a favorable Thursday-morning update for a leukemia drug study, peaking at $7.67, compared with Wednesday's $3.24 close. Shares were recently at $4, up 23%. Volume was more than 81 million shares, compared with a 65-day average of 38,279.

Bio-Path agreed to sell 375,000 shares for $3.225 each, and agreed to issue 375,000 warrants in a concurrent private placement.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

April 18, 2024 15:43 ET (19:43 GMT)

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