02:27 PM EDT, 10/01/2024 (MT Newswires) -- BriaCell Therapeutics ( BCTX ) , was last seen down 41% after the biotechnology company said it is seeking US$5 million in a best-efforts offering of share units.

The company said it will look to place 5.13 million unit in the financing, with each priced at US$0.975 and made up of a share and a five-year warrant to buy a second share for US$0.85, exercisable immediately.

The company intends to use the net proceeds from the offering for working capital requirements, general corporate purposes, and the advancement of business objectives.

BriaCell shares were last seen down $0.66 to $0.97 on the Toronto Stock Exchange.

Price: 0.97, Change: -0.66, Percent Change: -40.49