Aligos Therapeutics Inc (ALGS)

Aligos Therapeutics Stock (ALGS) dropped by 21.52% from $0.76 to $0.5965 in the trading on Monday October 23, 2023. The reason why ALGS stock down today is due to the private placement. Aligos today announced that it has entered into a securities purchase agreement for a private placement that is expected to result in gross proceeds of approximately $92 million to advance its portfolio of drug candidates. The private placement involves the sale of common stock and warrants, with a closing date set for October 25, 2023. Piper Sandler serves as the exclusive placement agent for this transaction.