Aytu Bioscience Inc., of Englewood, Colo., said it has received more than $23 million in cash proceeds from warrant exercises with prices ranging from $1.25 to $1.50. The warrants had a weighted-average exercise price of $1.35. In total, approximately 17.1 million warrants were exercised. The company also announced a cash balance (unaudited) of approximately $62.5 million as of March 31, 2020.
Lattice Biologics Ltd., of Belgrade, Mont., said it entered a definitive agreement with Alumina Partners (Ontario) Ltd. for up to CA$6 million (US$4.29 million) in an at-will offering facility that replaces the private placement announced on March 17. The company has the right to draw down on the facility, for a period of 24 months at any time, at its sole election, in equity private placement tranches of up to CA$1 million. The agreement will provide additional financial flexibility for Lattice as it accelerates its growth to support phase I trials for its amniotic fluid concentrate, Amnioboost, in patients with acute respiratory distress syndrome, the principal cause of death in COVID-19 infection.