Lately, several IPOs have been targeted by traders, who are pumping shares higher. This has those stocks seeing great gains in their first few days of trading. However, these stocks typically come falling back down once the hype has died.
Let’s get into what investors need to know about BIAF stock below!
- BioAffinity Technologies stock was priced at $6.125 per share for its IPO.
- That saw the company raise $8 million in proceeds from the offering.
- The IPO also included units with two warrants.
- One of the warrants is tradable and exercisable at $7.35.
- The other one is non-tradable and exercisable at $7.656.
- Although BIAF stock is up now, shares may fall in the coming days.
- This fall would likely be due to shareholders exercising warrants and increasing the total pool of BIAF.
- The company will use funds from the IPO to fuel the commercialization of its CyPath lung test.
- The test is designed to detect early signs of cancer at the cellular level.
- To go along with the test, the company offers its own therapies to treat early cancer.
- The company does so through its OncoSelect Therapeutics subsidiary.
- BioAffinity Technologies claims that early detection and therapy help patients avoid a slew of problems.
- That includes costly and expensive treatments, as well as high stress and anxiety.
BIAF stock is up 10% as of Friday morning.
There’s more stock market news worth diving into below!
InvestorPlace is home to all of the hottest stock market news for Friday! That includes what has Starbucks (NASDAQ:SBUX), Cenntro Electric (NASDAQ:CENN) and Lululemon (NASDAQ:LULU) stock on the move today. You can find out all about these topics at the following links!
More Friday Stock Market News
- SBUX Stock Is in Focus on News of Starbucks’ New CEO Laxman Narasimhan
- What Is Going on With Cenntro Electric (CENN) Stock Today?
- Why Is Lululemon (LULU) Stock Up 10% Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.