India, April 7 -- Kiora Pharmaceuticals, Inc. (KPRX), a clinical-stage biotechnology company, announced that it has closed on a private placement on Monday, providing up to $24 million in gross proceeds, consisting of $5.0 million in upfront funding and up to an additional $19 million upon the exercise of accompanying milestone-based warrants.
Following the news, KPRX is up 18.87% at $2.37.
The sole investors in the private placement are Perceptive Advisors and ADAR1 Capital Management.
As per the terms of the agreement, each share of common stock, or pre-funded warrant, was sold together with four accompanying short-term Tranche A-1 common warrants and one accompanying Tranche A-2 common warrant at a combined purchase price of $2.543 pe...