- Sutro Biopharma (NASDAQ:STRO) has priced underwritten offering of 14.48M common shares at $5.18 per share for gross proceeds of ~$75M.
- Closing date is April 4, 2024.
- Net proceeds along with its existing cash, cash equivalents and marketable securities will be used primarily for general corporate purposes, which may include funding research, clinical and process development and manufacturing of its product candidates, increasing its working capital, developing its commercialization infrastructure, expanding its manufacturing capabilities, acquisitions or investments in businesses, products or technologies that are complementary to its own, capital expenditures and other general corporate purposes.
- STRO +3.2% premarket to $5.5
- Source: Press Release
Sutro Biopharma prices $75M underwritten offering
