24/7 Market News – Allena Pharmaceuticals, Inc. (NASDAQ: ALNA) shares are up more than 110% in pre-market trading as the company recently filed an offering.

Shares are .24 and climbing on more than 19,000 trades so far in the session. More than 22 million shares have traded today. The previous highest volume day was earlier this summer when shares ran to .24 on estimated 250 million shares.

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(24/7 MARKET NEWS) Allena Pharmaceuticals Inc. (NASDAQ:ALNA) popped in yesterday’s afterhours session to over $0.23 per share, after announcing that it was taking its B. Riley Securities funding agreement off the table.

It closed yesterday’s regular session at $0.119, down $0.0067 (-5.3302%), but is holding most of the afterhours gains at $0.21, up $0.09 (+76.22%), on 12,962,427 premarket shares traded.

Allena Pharmaceuticals Announces $2.8 Million Registered Direct Offering

https://www.globenewswire.com/en/news-release/2022/05/04/2435608/0/en/Allena-Pharmaceuticals-Announces-2-8-Million-Registered-Direct-Offering.html

NEWTON, Mass., May 04, 2022 (GLOBE NEWSWIRE) — Allena Pharmaceuticals, Inc. (NASDAQ:ALNA), a late-stage, biopharmaceutical company dedicated to developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders, today announced that it has entered into a securities purchase agreement with an investor for the issuance and sale of an aggregate of 1,436.0688 shares of its Series D Convertible Preferred Stock, and 1,436.0688 shares of its Series E Convertible Preferred Stock in a registered direct offering for an aggregate gross proceeds of approximately $2.8 million, before deducting placement agent fees and other offering expenses. The shares of Series D Convertible Preferred Stock and Series E Convertible Preferred Stock each have a stated value of $1,000 per share and are convertible into an aggregate of 8,975,430 shares of common stock of the Company upon the conversion of the Series D Convertible Preferred Stock and into an aggregate of 8,975,430 shares of common stock of the Company upon the conversion of the Series E Convertible Preferred Stock, in each case, at a conversion price of $0.16 per share.

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