The company is in Phase 3 trials with atrasentan for IgA nephropathy (IgAN).
The stock was priced at $18 per share, off a filing range of $21 - $24.
The company is waiting on FDA review of its lead product candidate.
Rio Tinto takes 7.2% stake.
The financing will support the commercialization of BioXcel's recently approved Igalmi sublingual film for agitation associated with schizophrenia or bipolar I or II disorder.
After trading near $70 a month ago, the stock is now down below its IPO price.
Image source: Affimed
Affimed (AFMD) announced 22,500,000 of its common shares at a public offering price of $4.00
Investment thesis
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Source: Equities News
...Each share of common stock offered is accompanied by a warrant to buy 0.75 shares.
The deal comprises stock at $1.90 plus pre-funded warrants.
The deal was priced at $5.40, a 19% discount to Thursday's close.