Genelux Corp falls on $18 mln private placement

Genelux

12/06/2023 13:58

** Shares of biopharmaceutical co Genelux Corporation
 GNLX.O  down 4.4% at $26.61 premarket
    ** Co announces $18 mln private placement through issuance
of its 900,000 shares at $20.00/shr, reflecting a nearly 28.2%
discount on stock's last close 
    ** Says proceeds to extend co's cash runway into the first
quarter of 2026 
    ** As of the last close, stock trading flat YTD 

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))