IIPR intends to use the net proceeds from this offering to invest in specialized industrial real estate assets that support the regulated cannabis cultivation and processing industry.
The offering is expected to close on or about Jan. 28, 2020, subject to customary closing conditions.
Previously: Cannabis REIT raising capital; shares down 4% (Jan. 23)
Bayer cuts stake in CRISPR Therapeutics
In a 13D filing, Bayer’s (OTCPK:BAYRY) investment arm disclosed that it sold 632,105 shares of gene editor CRISPR Therapeutics (NASDAQ:CRSP) during the period of January 9-17, trimming its stake to 6.1% (~3.7M shares) from 7.2%.
Aphria secures C$100M investment; shares up 5% premarket
Aphria (NYSE:APHA) is up 5% premarket on average volume on the heels of its announcement that an unnamed institutional investor has agreed to purchase 14,044,944 units at C$7.12 per unit representing a total investment of C$100M.
Each unit consists of one common share and one two-year warrant to purchase 1/2 of a common share at C$9.26.
Closing date is January 31.
Roche’s Tecentriq flunks late-stage urothelial cancer study
A Phase 3 clinical trial, IMvigor010, evaluating Roche (OTCQX:RHHBY) unit Genentech’s Tecentriq (atezolizumab) as an adjuvant (after surgery) treatment of muscle-invasive urothelial cancer failed to achieve the primary endpoint of disease-free survival (DFS) compared to observation.
The company says its extensive development program for Tecentriq will continue, including studies in early and advanced bladder cancer.
Sonoma Pharma up 20% premarket on potential sale of U.S. dermatology unit
Thinly traded nano cap Sonoma Pharmaceuticals (NASDAQ:SNOA) has engaged Maxim Group LLC to assist in exploring strategic alternatives for its U.S. Dermatology Division.
