Summary by Moomoo AI
eFFECTOR Therapeutics, a clinical-stage biopharmaceutical company, has announced an At the Market Offering Agreement with H.C. Wainwright & Co., LLC to sell shares of its common stock with an aggregate offering price of up to $50 million. The common stock is listed on the Nasdaq Capital Market under the symbols 'EFTR' and 'EFTRW'. The last reported sale price of eFFECTOR's common stock was $2.08 per share as of May 8, 2024. The sales are to be made in 'at the market offerings' as defined under Rule 415(a)(4) of the Securities Act of 1933. Wainwright will act as the sales agent and will receive a commission of 3.0% of the gross proceeds from any shares sold under the agreement. The offering is detailed in the prospectus supplement dated May 9, 2024, and is part of a shelf registration process.
