India, April 13 -- ImageneBio, Inc. (IMA), a clinical-stage biotechnology company that develops therapeutics for patients with immunological, autoimmune and inflammatory diseases, announced it has entered into a definitive securities purchase agreement in a private placement with gross proceeds of approximately $30 million.
Following the news, IMA is surging to $5.77, up 17.75%.
As per the terms of the securities purchase agreement, Imagene is selling pre-funded warrants to purchase up to 5.77 million shares at a price of $5.199 per pre-funded warrant. The pre-funded warrants will have an exercise price of $0.001 per share.
The company intends to use the proceeds from the offering to support further development of IMG-007, the firm's lea...