Statera Biopharma Shares Tumble After Raising $2M Via Equity

Statera Biopharma Inc STAB has announced a registered direct offering of $2 million common stock and warrants.

• The Company has agreed to sell approximately 2.0 million common shares and warrants to purchase about 2.0 million shares. 
• The purchase price for one share and one warrant will be $1.00.
• The warrants will be exercisable immediately, have an exercise price of $1.00 per share, and expire five years from the initial exercise date. 
• The offering is expected to close by February 9.
• Recently, Statera Biopharma submitted Phase 3 trial protocol to the FDA for STAT-201 for pediatric Crohn's Disease (CD). Enrollment is expected to launch in early 2022.
• STAT-201, Statera's most advanced drug candidate, is an immune modulator focused on restoring mucosal healing and intestinal barrier function as an adjunct to the standard of care in moderate to severe CD. 
• Also See: Statera Starts Dosing In Acute COVID-19 Trial.
• Additionally, the FDA lifted the clinical hold placed on Statera's Entolimod in acute radiation syndrome (ARS).
• The Company plans to initiate the first study of Entolimod in 2022.
• Price Action: STAB shares are down 23.7% at $1.00 during the premarket session on the last check Monday.