Tharimmune (THUR) Tumbles 20.7% on $5-Million Share Sale

We recently published 10 Stocks Losing Big. Tharimmune, Inc. (NASDAQ:THAR) is one of the worst performers of Tuesday.

Tharimmune tumbled by 20.75 percent on Tuesday to close at $6.11 apiece as investor sentiment was dampened by a share sale transaction on the same day that saw the company raise as much as $5.35 million in fresh funds.

In a regulatory filing, Tharimmune, Inc. (NASDAQ:THAR) said it entered into a share purchase agreement with certain buyers involving the sale of more than 1.18 million common shares at a price of $4.50 apiece.

The share sale forms part of a shelf registration statement approved by the Securities and Exchange Commission and became effective on March 24, 2023.

The offering is expected to close tomorrow, Wednesday, subject to customary closing conditions.

Additionally, Tuesday’s drop can be attributed to a profit-taking transaction following Monday’s 63-percent surge.

Tharimmune, Inc. (NASDAQ:THAR) is a clinical-stage biotechnology company developing a portfolio of therapeutic candidates for inflammation and immunology.

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