{"id":21940,"date":"2023-06-13T07:15:10","date_gmt":"2023-06-13T11:15:10","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/genelux-shares-rise-12-after-18m-private-placement-prices\/"},"modified":"2023-06-13T07:15:12","modified_gmt":"2023-06-13T11:15:12","slug":"genelux-shares-rise-12-after-18m-private-placement-prices","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=21940","title":{"rendered":"Genelux Shares Rise 12% After $18M Private Placement Prices"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20230612-706066\" role=\"document\">\n<p>By Chris Wack<\/p>\n<pre><\/pre>\n<p>Genelux shares were up 12% to $31.17 on Monday after the late-stage clinical-stage immuno-oncology company priced a private placement for 900,000 shares at $20 a share, for proceeds of $18 million.<\/p>\n<p>Proceeds from this private placement, combined with a previous private placement and current cash and cash equivalents, are expected to extend Genelux&#8217;s cash runway into the first quarter of 2026.<\/p>\n<div class=\"paywall\">\n<p>Genelux intends to use the proceeds from the private placements for expansion of manufacturing capabilities, advancement of clinical programs, working capital, and general corporate purposes.<\/p>\n<p>The clinical programs Genelux plans to fund with the proceeds include a Phase 3 registrational trial of Olvi-Vec in patients with platinum-resistant, refractory ovarian cancer.<\/p>\n<pre><\/pre>\n<p>Write to Chris Wack at chris.wack@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/genelux-shares-rise-12-after-18m-private-placement-prices-354c4c9e?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Chris Wack Genelux shares were up 12% to $31.17 on Monday after the late-stage clinical-stage immuno-oncology company priced a private placement for 900,000 shares at $20 a share, for proceeds of $18 million. Proceeds from this private placement, combined with a previous private placement and current cash and cash equivalents, are expected to extend [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-21940","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Genelux Shares Rise 12% After $18M Private Placement Prices | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Chris Wack Genelux shares were up 12% to $31.17 on Monday after the late-stage clinical-stage immuno-oncology company priced a private placement for\" \/>\n<meta name=\"robots\" content=\"index, follow, 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