Bio-Path Shares Hit 52-Week Low After Public Offering Prices

By Chris Wack

Bio-Path Holdings shares were down 49% at 39 cents after the company priced a public offering of 3.5 million shares, together with common stock purchase warrants, at 60 cents a share and accompanying common stock purchase warrant.
The stock hit its 52-week low of 37 cents earlier in the session, and closed Wednesday’s session 23% lower. The stock is down 89% in the past 12 months.

The biotechnology expects to see proceeds of $2.1 million.
The stock purchase warrants are exercisable immediately and will expire five years from the date of issuance.
The offering is expected to close on or about Monday.
Write to Chris Wack at [email protected]