Why Comera Life Sciences Shares Are Shooting Up Almost 50% During Wednesday's After-Hours Session

Comera Life Sciences Holdings Inc CMRA shares are trading higher by 46.33% to $2.70 during Wednesday's after-hours session after the company announced it has entered into a purchase agreement with Arena Business Solutions for up to $15 million of the company's common stock.

"The line of credit provides the opportunity to invest in our pipeline and proprietary formulation platform, SQore™, which is designed to transform intravenous biologics into subcutaneous versions that patients can self-administer in a single dose," said Jeffrey Hackman, President, Chief Executive Officer and Chairman of Comera.

"Strengthening our balance sheet will help us achieve our strategic objectives in the near-term, and we are grateful for Arena's commitment to Comera's success," Hackman stated.

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According to data from Benzinga Pro, Comera Life Sciences has a 52-week high of $15.30 and a 52-week low of $1.11.