Overview
- An initial $15 million tranche is slated to close March 20, with a second tranche of up to $15 million expected by April 30 and warrants that could add $33.3 million for $63.3 million in total potential proceeds.
- Units are priced at $2.25, a 68% premium to the March 17 close, and include a half-warrant per unit exercisable at $5.00 for four years.
- Board member Greg Bailey is leading the financing and will become co-chair alongside Simba Gill.
- Funds are earmarked for SER-252, now in a registrational Phase 1b for advanced Parkinson’s with enrollment under way in the United States and Australia after first-patient dosing.
- Shares rose 39.45% after hours to $1.78 from $1.28 as the small-cap, down 71% over 12 months, outlined a runway potentially extending into the second half of 2027, according to the company.