Edesa Biotech tumbles on planned equity offering
19/08/2026 21:43
BUZZ-Edesa Biotech tumbles on planned equity offering ** Shares of Edesa Biotech EDSA.O tumble 20.5% to $4.57 post-market as co seeks equity raise
** Canadian biopharma commences offering of stock and pre-funded warrants and accompanying warrants; deal size not disclosed
** Guggenheim Secs sole bookrunner
** EDSA intends to use net offering proceeds for general purposes, including working capital, capex, and R&D and manufacturing expenses
** Co, which focuses on medical dermatology and respiratory diseases treatments, has ~9.6 mln shares outstanding for about $55 mln market cap
** Stock closed up 0.7% at $5.75 on Weds and has roughly quadrupled YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))