Vaccinex Stock Gains Momentum Amid 6.6M Dollars Private Placement

Vaccinex, a biotech company producing medicines for the treatment of serious diseases like cancer, signed a contract to buy shares during a trading session on January 27 with total gross revenue of about 6.6M dollars. The company will purchase shares with a syndicate of investors for a private placement of 5,945,943 units of common stock for $1.11/share. The transaction will close on January 31 this year in accordance with the usual closing conditions. After yesterday’s loss of 17.57%, VCNX pleases investors today and is growing by almost 13%. Now the stock is worth $1.0300.

Vaccinex

Maurice Zauderer, Chief Executive of Vaccinex, Albert D. Friedberg, Chairman of the Board of Directors (both bought shares for 2M dollars), as well as Jacob Frieberg, together with stockholders who are not related to the company in any way and purchased shares for 2.6M dollars, are parties to the above agreement. Vaccinex plans to spend the net revenue from the agreement to fund its cancer candidate drug, pepinemab.