Ritter Pharmaceuticals (NASDAQ: RTTR) is trading more than 10% higher mid-day after the company this morning priced an underwritten public offering of 2,127,660 shares of its common stock at a price to the public of $2.35 for gross proceeds of approximately $5 million. The offering is expected to close on October 31, 2016, subject to customary closing conditions.
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About Ritter Pharmaceuticals, Inc.
Ritter Pharmaceuticals, Inc. develops novel therapeutic products that modulate the human gut microbiome to treat gastrointestinal diseases. The Company is advancing human gut health research by exploring the metabolic capacity of gut microbiota, and translating the functionality of these microbiome modulators into safe and effective applications. Their lead drug candidate, RP-G28, has the potential to become the first FDA-approved drug for lactose intolerance, a condition that affects more than one billion people worldwide. For more information visit www.ritterpharmaceuticals.com
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