PRISM Healthcare Index Update: BULLFROG AI HOLDINGS Sees Stock Dip
BullFrog AI Holdings (NASDAQ: BFRG), known for its innovative approach in drug development using artificial intelligence and machine learning, experienced a decline in its stock following the announcement of its public offering. The company has priced its underwritten public offering at 1.51 million shares and accompanying warrants, each valued at $3.78, aiming to raise about $5.7 million in gross proceeds.
The funds are intended for working capital and general corporate purposes. The completion of the offering, anticipated by February 5, 2024, hinges on standard closing conditions.
WallachBeth Capital, LLC is acting as sole book-running manager for the offering.
About Bullfrog AI
BullFrog AI is a technology-enabled drug development company using Artificial Intelligence and machine learning to enable the successful development of pharmaceuticals and biologics. Through its collaborations with leading research institutions, BullFrog AI is at the forefront of AI-driven drug development using its proprietary bfLEAP™ artificial intelligence platform to create and analyze networks of biological, clinical, and real-world data spanning from early discovery to late-stage clinical trials. BullFrog AI is deploying bfLEAP™ for use at several critical stages of development with the intention of streamlining data analytics in therapeutics development, decreasing the overall development costs by decreasing failure rates for new therapeutics.
