Clarus Therapeutics Holdings Inc (NASDAQ:CRXT) shares are trading lower by 52.82% at $0.85 after the company announced an upsized $30 million underwritten public offering at $1.10 per share.
The offering is expected to close on April 27, 2022, subject to customary closing conditions. Clarus expects to use the net proceeds from the offering, together with its existing cash, for working capital and other general corporate purposes.
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Clarus Therapeutics focuses on the development and commercialization of oral testosterone replacement therapy in the United States.
According to data from Benzinga Pro, Clarus Therapeutics has a 52-week high of $31.24 and a 52-week low of $0.61.
