03:42 AM EDT, 10/17/2024 (MT Newswires) -- Capricor Therapeutics ( CAPR ) said late Wednesday it initiated an underwritten public offering of common stock, subject to market and other conditions.

The company plans to grant the underwriters a 30-day option to purchase up to 15% additional number of common shares.

Net proceeds will be used for product development, manufacturing, working capital and general corporate purposes, the company said.

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