SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) -- Biora Therapeutics, Inc. (NASDAQ:BIOR), the biotech company that is reimagining therapeutic delivery, today announced the closing of its previously announced registered direct offering of an aggregate of 5,454,548 shares of the Company's common stock at an offering price of $1.10 per share of common stock and concurrent private placement of unregistered warrants to purchase up to 5,454,548 shares of common stock. The warrants have an exercise price of $1.10 per share, will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the warrants, and will expire five years from the date of stockholder approval. The gross proceeds of the offering of shares, before deducting placement agent's fees and other offering expenses, were approximately $6,000,000. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Biora intends to use the net proceeds from this offering to support its operations, complete its ongoing BT-600 clinical trial, make further investments in the development of its oral biotherapeutics platforms, and for working capital and general corporate purposes. A shelf registration statement relating to the offered shares of common stock was filed with the Securities and Exchange Commission ("SEC") on July 30, 2021 and was declared effective on August 6, 2021. The offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of an effective registration statement. A prospectus supplement and accompanying prospectus relating to the offering of shares of common stock was filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New ...