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Why NeuBase Therapeutics, Inc. (NBSE) stock declined in Wednesday’s aftermarket?

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Shares of the NeuBase Therapeutics, Inc. (NBSE) stock were declining in yesterday’s aftermarket trading session after the spread of the news that Neubase stock announced the proposed public offering of its common stock. NBSE stock price saw a downtrend of 9.17% to drop at $5.45 a share in the late hours of Wednesday on April 21, 2021. NBSE was green in the previous trading session and recorded a gain of 3.09% at closing. Let’s discuss the current events in detail.

What’s happening?

NeuBase Therapeutics, Inc is a pre-clinical stage pharmaceutical company mainly focused on the treatment of rare genetic diseases as well as cancers resulting from mutant genes through the development of various therapies.NBSE stock recently started the underwritten public offering of shares of its common stock. The proposed public offering is subjected to the market along with various other conditions and the actual size of the offering, and the completion date of it has not been disclosed by the NBSE stock. The underwriters will be granted the 30-day option for the purchasing of additional 15% shares of the common stock of NeuBase and the terms and conditions for this option would be similar to the terms and conditions of the public offering.

NeuBase stock intends to use the net proceeds from the proposed public offering in its general corporate purposes as well as working capital. Part of the proceeds will be used in the product candidates and pipeline expansion of NBSE stock.

Previous News of NBSE stock:

On April 08, 2021, NeuBase stock did the announcement that it will host the virtual R&DDay for investors and analysts on June 8, 2021, from 12:30 p.m. to 2:30 p.m. EDT.NBSE stock will present its new data and in-depth review of the development of pipeline candidate products of Huntington’s disease, myotonic dystrophy type 1, and the previously undruggable target in a new oncology program. The expansion of the management team will also be discussed in the event.

Conclusion:

Individuals are responding to the public offering announced by the NBSE stock. The completion date and the specific per-share price have not been assured in the offering. The upcoming event on June 8 will further clarify the position of NBSE stock.

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