Emerald Bioscience, Inc., of Long Beach, Calif., priced the sale of 116.7 million units, consisting of a share and a warrant to purchase an additional share, at 6 cents per unit, grossing the company approximately $7 million, which Emerald plans to use for general corporate purposes, including working capital. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering, which is scheduled to close on or about Aug. 4. Shares of Emerald (OTC:EMBI) closed down 2.93 cents, or 36.6%, to 5.07 cents on July 31.

Essa Pharma Inc., of Houston, closed its public offering of 8.165 million shares, including the underwriters’ option to purchase additional shares, at $6 per share, netting the company approximately $45 million. Essa plans to use the proceeds for preclinical and clinical activities, chemistry, manufacturing and controls, research and development, as well as working capital and general corporate purposes. Jefferies acted as sole book-running manager for the offering. Oppenheimer & Co. acted as lead manager for the offering, and Bloom Burton Securities Inc. acted as co-manager for the offering.

FSD Pharma Inc., of Toronto, plans to sell about 2.8 million class B subordinate voting shares and warrants to purchase about 1.4 million shares at a purchase price of $3.62 per share in a direct offering. Alliance Global Partners is acting as sole placement agent, and Brookline Capital Markets, a division of Arcadia Securities LLC, acted as the company's financial advisor for the offering, which is scheduled to close on or about Aug. 4. Alliance Global Partners has an option to arrange for purchases of up to an additional $10 million on the same terms for a period of 30 days following the initial closing. Shares of FSD (NASDAQ:HUGE) closed down 63 cents, or 14.8%, to $3.63 on July 31.

Inozyme Pharma Inc., of Boston, closed its IPO of 8.05 million shares, including shares sold through the underwriters’ option to purchase additional shares at $16 per share, grossing the company $128.8 million. BofA Securities, Cowen and Piper Sandler acted as joint book-running managers for the offering. Wedbush Pacgrow acted as lead manager for the offering.

Sellas Life Sciences Group, of New York, a company developing cancer immunotherapies, said it entered securities purchase agreements with certain institutional and accredited investors to raise about $9.2 million through the private placement of up to 2.7 million shares of its common stock and accompanying warrants to purchase an aggregate of 2.7 million shares of common stock at a combined purchase price of $3.335 per share and accompanying warrant. The warrants will be exercisable immediately at an exercise price of $3.30 per share and will expire five years from the effective date. The closing of the private placement is expected to occur on Aug. 4. Maxim Group LLC is acting as the sole placement agent. Shares of Sellas (NASDAQ:SLS) closed July 31 at $3.56, up 35 cents.

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