Why Kiora Pharmaceuticals Shares Are Getting Hammered Today

Kiora Pharmaceuticals Inc KPRX shares are trading lower by 38.71% to $0.15 Friday morning after the company announced the pricing of a public offering of 19,770,172 shares at $0.20 for approximately $5.2 million.

Kiora Pharmaceuticals says the closing of the offering is expected to take place on or about July 26, subject to the satisfaction or waiver of customary closing conditions.

Kiora Pharmaceuticals is a clinical-stage specialty pharmaceutical company. It focuses on developing and commercializing products for treating diseases and disorders of the eye.

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According to data from Benzinga Pro, Kiora Pharmaceuticals has a 52-week high of $6.43 and a 52-week low of $0.15.