CervoMed Inc. (CRVO), a clinical-stage biotechnology company developing treatments for age-related brain disorders, announced and priced its offering of 2.5 million shares of common stock at $4.00 per share. The gross proceeds are expected to be $10 million.
The company intends to use the net proceeds from the offering for working capital and general corporate purposes.
The closing of the offering is expected to occur on or about June 22, 2026, and H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
CervoMed's lead investigational drug candidate is Neflamapimod, an oral small molecule, and the company recently completed the Phase 2b RewinD-LB trial, which evaluated Neflamapimod in patients with dementia with Lewy bodies (DLB), enriched for those without co-pathology of Alzheimer's disease.
According to CervoMed, initiating a Phase 3 trial in DLB is contingent on establishing a partnership and/or securing additional financing.
CRVO has traded between $2.13 and $13.13 since June 2025. The stock closed Thursday's(June 18, 2026) trade at $4.24, up 11.29%.
In the overnight market, CRVO is down 5.66% at $4.00.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.