CollabRx (CLRX) Closes One Stock Offering... Announces Another

Small-cap biotech watchers are in an uproar late Wednesday after CollabRx, Inc. (NASDAQ: CLRX) announced its second common stock offering in a week.

After the close, CollabRx announced that it intends to offer for sale shares of its common stock in an underwritten public offering led by Aegis Capital. The size of the offering was not disclosed.

Today's announcement follows news on February 19th that the company priced an underwritten public offering of 3,840,000 shares of its common stock and warrants to purchase up to an aggregate of 3,840,000 shares of its common stock at an offering price of $1.25 per common share and $0.0001 per warrant. That offering, also handled by Aegis, closed today.

CollabRx said it plans to use the net proceeds from the new offering for working capital and to fund other general corporate purposes, including funding the costs of operating as a public company

Shares of are up 96% since the close on February 18, the day the company announced that it regained compliance with the NASDAQ $1.00 minimum bid requirement.

Needless to say, shares are getting crushed to the tune of 29% after-hours Wednesday.

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