06:25 AM EST, 01/03/2025 (MT Newswires) -- Willow Biosciences ( CANSF ) late on Thursday said it will not proceed with a previously announced non-brokered private placement offering and will instead pursue alternative financing.

The company said the alternative financing will be "less dilutive" and that it will also sell commercial rights on one or more later-stage programs.

"Willow has been approached by multiple third parties to acquire the royalty rights on two development programs and is in late-stage negotiations for one of the programs," said Willow President and CEO Chris Savile.