Why Bio-Path Holdings (BPTH) Stock Is Down 45%

Bio Path Holdings Inc BPTH shares are trading lower by 45.95% to $0.41 Thursday afternoon after the company priced a 3.5 million unit offering at $0.60 per unit.

The offering is expected to generate around $2.1 million in gross proceeds. The offering includes common stock purchase warrants and is expected to close around August 7, with Roth Capital Partners as the placement agent.

The proceeds will be used for working capital and general corporate purposes.

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According to data from Benzinga Pro, BPTH has a 52-week high of $4.24 and a 52-week low of $0.37.