Genelux Corporation Announces Pricing of $20.0 Million Underwritten Public Offering of Common Stock

Core Viewpoint - Genelux Corporation has announced a public offering of 6,666,667 shares of its common stock at a price of $3.00 per share, aiming to raise approximately $20.0 million in gross proceeds [1][2]. Group 1: Offering Details - The offering consists of 6,666,667 shares priced at $3.00 each, with all shares being sold by Genelux [1]. - The gross proceeds from the offering are expected to be around $20.0 million before deducting underwriting discounts and commissions [2]. - An additional 30-day option has been granted to the underwriter to purchase up to 1,000,000 shares at the same price [2]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for general corporate purposes, which may include research and development expenses, clinical trial expenses, capital expenditures, and working capital [3]. Group 3: Company Overview - Genelux is a late clinical-stage biopharmaceutical company focused on developing oncolytic immunotherapies for aggressive and difficult-to-treat solid tumors [6]. - The company’s lead product, Olvi-Vec, is currently being evaluated in multiple clinical trials for various cancer types, including ovarian cancer and non-small-cell lung cancer [6].