BUZZ-Aligos Therapeutics rises after $105 million private placement

Shares of biotech firm Aligos Therapeutics ALGS.O rise 3.8% to $27 premarket

ALGS says it is raising $105 million in a private placement financing

Co is selling ~2.1 million shares of common stock along with warrants to purchase up to ~2 million additional shares at a combined purchase price of $26.0825/shr

Combined purchase price is at a 0.2% premium to the stock's last close

Co says the funding will be used to start a mid-stage trial for ALG-000184, a treatment for chronic hepatitis B virus infection

Co says the funding will extend its cash runway into the H2 of 2026

Co has 3.6 million outstanding shares, with market cap of $93.4 million - LSEG data

Jefferies and Piper Sandler are acting as placement agents

ALGS shares more than doubled in 2024