Eledon Pharmaceuticals Stock Drops After Public Offering
Update: 2025-11-12
Description
Eledon Pharmaceuticals stock plummeted by nearly 18% in premarket trading on November twelfth, following their announcement of a new public offering. The company is selling over 15 million shares of common stock at $1.65 each and pre-funded warrants for an additional 15 million shares at $1.649 per warrant. This move is expected to raise approximately $50 million, with funds allocated for clinical development, pipeline advancement, and general corporate purposes. The stock drop is a common reaction to new public offerings, which can dilute existing shareholders ownership stakes.
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