Why Intensity Therapeutics (INTS) Stock Is Getting Hammered

Intensity Therapeutics Inc INTS shares are trading lower by 30.3% to 62 cents during Friday’s session after the company announced the pricing of a public offering expected to raise approximately $2.35 million.

What To Know: The offering involves the sale of over 3.1 million shares of common stock and accompanying Series B-1 and B-2 warrants, priced at 75 cents per share and warrant package. Both warrant series are exercisable at 85 cents per share, with the B-1 warrants expiring in five years and B-2 warrants in 18 months.

The offering, conducted on a “reasonable best efforts” basis, is expected to close on or about April 28, pending customary closing conditions.

Proceeds will support patient enrollment in the Company's INVINCIBLE-4 clinical trial, continued treatment in the INVINCIBLE-3 study and general corporate operations.

A.G.P./Alliance Global Partners is leading the placement, with Brookline Capital Markets acting as co-placement agent.

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According to data from Benzinga Pro, INTS has a 52-week high of $5.28 and a 52-week low of $0.59.