Aligos Therapeutics Stock Falls 17% On Private Placement Announcement

(RTTNews) - Aligos Therapeutics, Inc. (ALGS) is down 16.60 percent, dropping $4.32 to $21.70 during Wednesday's trading. The decline follows the company's announcement of a securities purchase agreement for a private placement, expected to generate approximately $105 million in gross proceeds.

ALGS is currently trading at $21.70, down from the previous close of $26.02. The stock has moved between $20.16 and $26.38 during today's session. Trading volume stands at 570,232 shares, above the average volume of 416,848.

The stock remains within its 52-week range of $6.76 to $46.80, with dilution concerns from the private placement.