Why 180 Life Sciences Stock Is Falling Today
Shares of 180 Life Sciences (NASDAQ: ATNF), a clinical-stage drugmaker, are under pressure. Investors aren't happy because the company has announced the second dilutive capital raise since it completed a transaction with KBLM Merger Corp IV to gain its stock market listing last year. The stock was down 26.7% as of 12:23 p.m. EDT Thursday.
The special purpose acquisition company, or SPAC, that took 180 Life Sciences public raised $115 million to identify and acquire a healthcare company with potential. This probably should have been more than enough to fuel 180 Life Sciences' relatively unambitious development pipeline, but it was not.
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Source Fool.com
