ImmuneOnco Biopharmaceuticals (Shanghai) (HKG:1541) plans to sell 33,150,000 shares at HK$7.05 apiece to investors under a placement deal, according to a Thursday filing with the Hong Kong Exchange.
The shares represent 8.14% of the pharmaceutical company's shareholding as enlarged by the placement.
Net proceeds of HK$229.7 million, will be used to fund studies for its non-small cell lung cancer, triple-negative breast cancer, and tumor treatments, and for working capital.
Shares slid 6% during Thursday's trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments