Landos Biopharma Announces $16.7 Million Private Placement Financing
NEW YORK, Jan. 05, 2023 (GLOBE NEWSWIRE) — Landos Biopharma, Inc. (NASDAQ:LABP) (“Landos” or the “Company”), a clinical-stage biopharmaceutical company developing novel, oral medicines for patients with autoimmune diseases, today announced a $16.7 million private placement financing from the sale of pre-funded warrants to purchase an aggregate of 30,909,090 shares of its common stock at a price per pre-funded warrant of $0.54 to entities associated with Perceptive Advisors LLC, Landos’ largest stockholder. The price per pre-funded warrant was based on the closing price per share of the Company’s common stock on January 4, 2023. Gross proceeds from the financing total approximately $16.7 million, before deducting offering expenses. The closing of the financing is subject to customary closing conditions and is expected to close on or before January 10, 2023.
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