CohBar Inc. (CWBR) stock prices were down by 1.10% as of the market closing on October 27th, 2021. This brought the price per share down to USD$0.90. Subsequent premarket fluctuations saw the stock plummet by 26.68%, bringing it down to USD$1.61.
Underwritten Public Offering
October 27th, 2021 saw CWBR stock announce its proposed underwritten public offering of shares of its common stock and accompanying warrants to purchase common stock. Each of the company’s warrants will be exercisable for five years from the date the offering is closed. The stocks and warrants for stocks being sold as a part of the offering will all be offered by the company, being subject to market conditions. The closing of the offering is not guaranteed, nor is its finalized size or terms.
Allocation of CWBR Stock’s Funds
Net proceeds generated by CWBR stock’s offering will be allocated towards general corporate purposes. The proceeds raised will be used in conjunction with the company’s existing cash resources to fund the preclinical and clinical development of its peptides. Together, these resources will also be used to increase working capital, as well as to cover operating expenses and capital expenditures.
CB4211 Results Presentation
October 13th, 2021 saw CWBR stock announce data from its CB4211 Phase 1a/1b clinical study having been selected for presentation. The presentation will take place during the poster session at The American Association for the Study of Liver Diseases (AASLD) Annual Meeting. The meeting will be held virtually from November 12th to the 15th of 2021.
CWBR Stock’s Continued Development
The presentation will discuss additional details from the Phase 1a/1b clinical study of CB4211 in obese subjects with nonalcoholic fatty liver disease (NAFLD). This is a follow-up of the company’s announcement of positive topline data from the trial from August 2021. These results included statistically significant reductions in ALT, AST, and glucose, as compared to placebo after a CB4211 treatment period of four weeks. The treatment is currently being developed as a therapy for the treatment of nonalcoholic steatohepatitis and obesity.
Future Outlook for CWBR Stock
CWBR stock is poised to capitalize on the opportunities afforded to it in light of the development of its CB4211. The company is keen to take steps to continue its trajectory of success in a bid to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.
