Rhea-AI Summary
Allena Pharmaceuticals (NASDAQ: ALNA) announced a registered direct offering of 7,317,074 shares at $2.05 per share, aiming to raise approximately $15 million. The offering is set to close on June 5, 2020, pending customary conditions. Proceeds will fund general working capital. H.C. Wainwright & Co. serves as the exclusive placement agent. This follows Allena's focus on developing oral enzyme therapeutics for severe metabolic and kidney disorders, notably their lead candidate, reloxaliase, for hyperoxaluria treatment.
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