BTX Stock Flies Again: Brooklyn Immunotherapeutics To Sell Shares to Lincoln Park Worth $20 mln

Brooklyn Immunotherapeutics Inc (NYSEAMERICAN:BTX) stock is going wild as the stock extending its last week rally.

BTX stock has soared another 56% in the pre-market session after entering into a purchase agreement with Lincoln Park Capital wherein co may sell $20 million of shares to Lincoln Park.

Moreover, the company also enters into a registration rights agreement with Lincoln Park, pursuant to which co agreed to file a registration statement with the SEC covering the resale of shares under the Purchase Agreement.

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BTX has been buzzing on wall street since the beginning of April as the stock went up all from $3.75 to $78 in the pre-market now – that’s a massive 1980% rise in a matter of 4-week. The recent rally was mainly driven by the target of retail investors from the Reddit group WallStreetBets. The WallStreetBets members seem to have noticed the short interest in the stock and its low float in order to mount a campaign.

Keep an eye on BTX stock if the stock is ready to hit a triple-digit rally.

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Jack Dawkins

Finance and Tech Contributor