Bio Path Holdings Inc (BPTH)

[SJSTOCKSHARK]

You may question the timing but the raising the cash NOW is good idea. The problem is they waited too long so more dilution occurred.

QUOTES AS OF 01:32:33 PM ET 11/21/2019
Shares of Bio-Path Holdings Inc.(BPTH) are trading lower Thursday afternoon after the company announced a registered direct offering of 808,080 common shares and warrants to purchase another 606,060 common shares.

The company said "several health care-focused institutional investors" were taking part in the offering, which is expected to raise about $8 million.

At 12:53 p.m. EST, Bio-Path(BPTH) shares traded 17.04% lower at $8.12 per share. Volume topped 1.3 million shares, above the 65-day average volume of 59,583. Bio-Path(BPTH) has a market cap of $28.26 million, 2.83 million shares outstanding and a public float of 2.85 million.

Earlier in the session, shares touched as high as $11.78 after the company reported the Food and Drug Administration cleared its Investigational New Drug application for BP1002, intended for the treatment of lymphoma.