ALX Oncology Holdings Inc ALXO shares are trading higher by 5.9% to $6.76 Thursday morning. The company announced the pricing of a public offering consisting of roughly 7.37 million common stock shares at $6.38 per share and 1.25 million pre-funded warrants at $6.379 per warrant.
The gross proceeds are expected to be approximately $55.0 million. The offering includes an option for underwriters to purchase an additional 1,293,103 common shares.
ALX Oncology plans to use the proceeds for clinical development and general corporate purposes. The closing is expected around October 10, subject to customary conditions.
According to data from Benzinga Pro, ALXO has a 52-week high of $13.64 and a 52-week low of $3.94.
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