India, May 1 -- Rein Therapeutics Inc. (RNTX), a clinical-stage biopharmaceutical company, announced the pricing of its 50 million share offering at $1 per share to raise $50 million in gross proceeds.
In the pre-market trading on Friday, shares of Rein dropped over 20%.
The offering is expected to close on May 4, 2026.
Rein has given underwriters a 45-day option to purchase an additional 7.5 million shares of common stock, at the same price of the public offering.
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The proceeds from the offering will be used to fund the ongoing Phase 2 clinical trial for the company's lead drug candidate, LTI-03, in treating idiopathic pulmonary fibrosis (IPF), in addi...