CervoMed Inc. announced and priced an offering of 2.5 million shares of common stock at $4.00 per share, expecting gross proceeds of $10 million. The clinical-stage biotechnology company intends to use the net proceeds for working capital and general corporate purposes. The closing is expected on or about June 22, 2026, with H.C. Wainwright & Co. acting as exclusive placement agent. CervoMed's lead candidate is Neflamapimod, and initiating a Phase 3 trial in dementia with Lewy bodies is contingent on establishing a partnership or securing additional financing. The stock closed Thursday at $4.24, up 11.29%, but fell 5.66% to $4.00 in overnight trading.
CervoMed Inc.Priced a dilutive $10M share offering at $4.00, below the prior close of $4.24, and stock fell 5.66% in after-hours trading.