Edesa Biotech, Inc. (NASDAQ: EDSA ) shares fell nearly 13% in Thursday premarket trading after the company priced a $25 million public stock offering .
Edesa Biotech shares fell 18.27% to $4.70 in Wednesday’s after-market session, putting the stock on traders’ radars.
The move followed the company’s Q3 earnings release, which came out four days earlier, according to Benzinga’s after-hours movers recap .
What Is Edesa Biotech’s Financing Deal?
Edesa is raising fresh capital via an equity offering of 3.87 million common shares and up to 675,000 pre-funded warrants, each paired with a warrant to buy one common share.
The common-share units are priced at $5.50, while the pre-funded warrant units are priced at $5.4999.
Latest Private Market Opportunities Join 400,000+ InvestorsThe new offering raises dilution concerns for current shareholders.
The accompanying warrants have a $7.50 exercise price and expire after 18 months or 30 days following the company’s announcement of Phase 2 topline data for EB06 in vitiligo, whichever comes first.
Underwriters also received a 30-day option to buy up to 681,825 additional shares and accompanying warrants. The offering is expected to close around Aug. 21.
Edesa plans to use the proceeds for general corporate purposes, including working capital, R&D, manufacturing and capital expenditures. Guggenheim Securities is the sole book-running manager.
Edesa is a clinical-stage biopharmaceutical company developing host-directed therapeutics for immuno-inflammatory diseases.
EDSA Stock: Support, Resistance And Momentum
EDSA is trading below its 20-day SMA of $5.35, 50-day SMA of $6.23, and 100-day SMA of $7.85, while also sitting just below its 200-day SMA at $5.10. That setup leaves the stock facing nearby Resistance and a key longer-term support test.
Key Resistance: $5.35 — near the 20-day SMA Key Support: $5.10 — near the 200-day SMAEDSA remains up 144.10% over the past 12 months but is well below its 52-week high of $20.32, highlighting the stock’s volatility. Longer-term signal, but the more recent swing high in June and swing low in July highlight a choppier, headline-driven tape.
EDSA Price Action: Edesa Biotech shares were down 13.74% at $4.96 during premarket trading on Thursday, according to Benzinga Pro data .
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