Arrivent Biopharma, Inc. ("Arrivent") has announced the pricing of a public offering of its common stock and pre-funded warrants. The offering consists of 2,482,692 shares of common stock priced at $19.50 per share and pre-funded warrants to purchase up to 1,363,469 shares of common stock at a price of $19.4999 per share. The gross proceeds from the offering are expected to be approximately $75 million.
Arrivent has additionally granted the underwriters a 30-day option to purchase up to an additional 576,923 shares of its common stock. The offering is expected to close on or about July 3, 2025, subject to customary closing conditions.
The company intends to utilize the net proceeds from the offering, along with its existing cash resources, to support its activities for Firmonertinib and its other pipeline programs, as well as for working capital and general corporate purposes.
Arrivent is a clinical-stage biopharmaceutical company focused on developing and commercializing differentiated medicines for patients with cancers. The company aims to leverage its drug development expertise to maximize the potential of its lead development candidate, Firmonertinib, and advance a pipeline of novel therapeutics.
This press release contains forward-looking statements, including information about the completion of the public offering and the intended use of proceeds. The market has reacted to these announcements by moving the company's shares -1.56% to a price of $20.77. If you want to know more, read the company's complete 8-K report here.
