Virios Therapeutics continues plunge on planned stock offering

Dogwood Therapeutics

19/09/2022 21:38

** Virios Therapeutics Inc's  VIRI.O  shares down 12% to
fresh record lows in extended trading, adding to plunge in
regular session as co looks to raise equity
    ** VIRI closed down 77.2% at $2.00 after co early Mon said
its antiviral drug IMC-1 failed mid-stage study for treatment of
fibromyalgia  urn:newsml:reuters.com:*:nL4N30Q1U4
    ** Co after the bell announces proposed stock offering to
further advance clinical development of IMC-1; deal size not
disclosed
    ** ThinkEquity sole book-runner
    ** VIRI has 8.3 mln shares outstanding, per Refinitiv data,
and ~7.4 mln of public float
    ** About 3.4 mln shares traded on Mon vs stock's 10-DMA
volume of just roughly 31,400

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))