01:17 PM EDT, 09/27/2024 (MT Newswires) -- Theriva Biologics ( TOVX ) shares were nearly 26% lower in recent Friday trading after the company priced its $2.5 million public offering of its common shares and accompanying warrants.

The company priced its offering of about 1.4 million shares and accompanying warrants to purchase as many shares at $1.75 apiece. The stock closed Thursday at $2.04.

The offering is scheduled to close on Friday, subject to customary closing conditions.

Theriva Biologics ( TOVX ) said it intends to use the net proceeds from this offering for working capital and general corporate purposes, adding that it could also allocate a part of the proceeds to invest in or purchase other products, companies, or technologies.

Price: 1.52, Change: -0.53, Percent Change: -25.74