Aridis soars after scrapping stock offering

Aridis Pharmaceuticals

27/09/2022 14:53

** Shares of Aridis Pharmaceuticals Inc  ARDS.O  soar 23.5%
to $1.05 after the anti-infectives developer withdraws a common
stock offering  urn:newsml:reuters.com:*:nPnhM5dNa
    ** ARDS cites market environment and "interest of achieving
the best value for our stockholders" as reasons for withdrawal
    ** Co on Monday said it planned for a public stock offering
and had hired Aegis Capital Corp as the sole book-runner
 urn:newsml:reuters.com:*:nPn66kjgha
    ** ARDS had $8 mln in cash and equivalents as of June 30
 urn:newsml:reuters.com:*:nPn3DcQ5ka
    ** ARDS shares down ~31% this year 
 (Reporting by Manas Mishra in Bengaluru)
 ((www.twitter.com/Manaswrites15;))