OncoSec Medical Inc. closed its previously announced offering of shares, raising $23 million in the process.
The San Diego-based biotechnology company issued 15,333,334 shares at $1.50 each, inclusive of the 2 million shares issued to the offering's underwriters as part of their overallotment option.
OncoSec plans to use the net proceeds primarily for a phase 2 trial in skin cancer.
Piper Jaffray & Co. acted as lead book-running manager for the offering. Cantor Fitzgerald & Co. acted as a book runner.
