Canopy Growth stock tumbles after announcing $200 million share sale plan
SAN DIEGO - Revelation Biosciences, Inc. (NASDAQ: REVB), a clinical-stage life sciences company, announced the pricing of its public offering, which is expected to close around May 29, 2025. The offering includes 3,640,000 shares of common stock, with each share bundled with a warrant to purchase additional shares, at a combined price of $1.10. The offering comes as the stock trades near its 52-week low of $1.90, having declined over 92% in the past year according to InvestingPro data.
The warrants, set at the same price per share, will become exercisable upon stockholder approval and will expire five years from the initial exercise date. Roth Capital Partners is the sole placement agent for the offering.
This capital raise aims to generate approximately $4 million in gross proceeds, which will be used to advance Revelation’s product candidates. The intended uses for the net proceeds include completing an ongoing Phase 1b clinical study, manufacturing clinical drug supply, conducting additional preclinical work for multiple indications, further developing other products and therapies, and funding working capital and general corporate purposes. With a market capitalization of just $1.86 million and an EBITDA of -$8.14 million in the last twelve months, the company faces significant financial challenges. For deeper insights into REVB’s financial health and 16 additional exclusive ProTips, visit InvestingPro.
The securities are offered under a registration statement that was declared effective by the U.S. Securities and Exchange Commission (SEC) on May 28, 2025. Interested parties can access the prospectus via the SEC’s website or through Roth Capital Partners.
Revelation Biosciences is developing Gemini, a proprietary formulation aimed at preventing and treating diseases by modulating trained immunity. The company is currently evaluating Gemini for various applications, including the prevention of post-surgical infections, acute kidney injury, and the treatment of chronic kidney disease.
The press release contains forward-looking statements, which are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
This article is based on a press release statement from Revelation Biosciences, Inc.
In other recent news, Revelation Biosciences announced the retirement of Dr. George F. Tidmarsh from its Board of Directors. Dr. Tidmarsh is stepping down due to his new commitments with U.S. governmental agencies, which may present a conflict of interest with his board duties. During his five-year tenure, he played a significant role in guiding the company. The company is actively pursuing the development of its proprietary formulation, Gemini, which is designed to address inflammation-related conditions. Revelation Biosciences has reported positive safety results and significant pharmacodynamic activity from its Phase 1 clinical trial of Gemini. The company is continuing its research efforts with ongoing programs targeting various medical conditions such as post-burn infection and chronic kidney disease. Despite potential risks, Revelation remains focused on achieving its financial and strategic objectives.
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