Why Tharimmune Stock (THAR) Is Down 70% Today

Tharimmune Inc THAR shares are trading lower by 71% to $1.00 Tuesday morning after the company priced an underwritten public offering of 10 million shares of common stock or pre-funded warrants at $1.00 per share, generating $10 million in gross proceeds.

Tharimmune has granted the underwriters an option to purchase an additional 1.5 million shares. The company plans to use the net proceeds primarily for advancing TH104's phase 2 trial in 2024, alongside general corporate purposes and potential investments.

The offering is set to close on November 30, pending standard closing conditions.

See Also: Why Is Liver Disease Focused Tharimmune Stock Trading Higher Monday?

According to data from Benzinga Pro, THAR has a 52-week high of $9.50 and a 52-week low of $0.95.