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Oncolytics Biotech Inc. (TSX:ONC, NASDAQ:ONCY) announced that its public offering price for 8 million common shares is US$4.00 per common share and the company expects the gross proceeds to be US$32 million.

Oncolytics Biotech Inc. (TSX:ONC, NASDAQ:ONCY) announced that its public offering price for 8 million common shares is US$4.00 per common share and the company expects the gross proceeds to be US$32 million.

As quoted in the press release:

The Company has granted to the underwriters participating in the offering a 30-day option to purchase up to an additional 1.2 million common shares to cover over-allotments, if any.

Oncolytics intends to use the net proceeds from the offering to fund its clinical trial program, manufacturing program and for general corporate and working capital purposes.

Click here to read the full Oncolytics Biotech Inc. (TSX:ONC, NASDAQ:ONCY) press release.

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