TuHURA Biosciences plunges after $15.6 million direct stock deal

Drug developer TuHURA Biosciences' HURA.O shares plunge 36.9% to $1.25

HURA enters agreement for sale of ~9.5 million shares, Series A warrants, and Series B warrants in a registered direct offering at a purchase price of $1.65 apiece for gross proceeds of $15.6 million

H.C. Wainwright is the exclusive lead placement agent for offering

Closing of the offering is expected to occur in three tranches

Proceeds from the offering will be used for working capital and general purposes

All three analysts covering the stock rate it "buy"; median PT $9.13 - data compiled by LSEG

As of last close, HURA stock down 51.6% YTD