By Denny Jacob
Allurion Technologies shares rose after agreeing to a private placement with expected gross proceeds of $2.5 million that will extend its runway through early 2026.
The stock was up 13% to $3.37. The stock is down 96% in the last 52 weeks.
The developer of obesity treatments entered into a subscription agreement with funds affiliated with RTW Investments for the purchase and sale of 841,751 shares of its common stock at a purchase price of $2.97 a share. The agreement also includes an option to fund up to an additional $10 million in subsequent tranches.
The private placement is expected to close on or about Wednesday.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 14, 2025 13:42 ET (18:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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