Advaxis' stock plummets after public offering prices at deep discount [MarketWatch]
Advaxis, Inc. (ADXS)
Last advaxis, inc. earnings: 9/9 08:00 am
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Source: MarketWatch
Advaxis' stock plummets after public offering prices at deep discount Shares of Advaxis Inc. ADXS, -30.59% plummeted 25% to pace all premarket declines Wednesday, after the biotechnology company's public offering of shares priced at a deep discount. The company said its offering of 2.5 million shares to the public priced at $4.00 a share, or 32% below Tuesday's split-adjusted closing price of $5.90. A 1-for-15 reverse stock split went into effect on March 29. The company expects proceeds of about $10 million from the offering, which it intends to use to fund research and development of its product pipeline. Advaxis is focused on the development of immunotherapy products. The share offering comes after the stock has more than doubled year to date through Tuesday (up 107%), but has plunged 76% over the past 12 months. In comparison, the iShares Nasdaq Biotechnology ETF IBB, +0.35% has gained 17% year to date and the S&P 500 SPX, +0.37% has advanced 14%. Have breaking news sent
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ADXS
News
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- Ayala Pharmaceuticals, Inc. (NASDAQ: ADXS) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Ayala Pharmaceuticals, Inc. (NASDAQ: ADXS) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Ayala Pharmaceuticals, Inc. (NASDAQ: ADXS) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
ADXS
Sec Filings
- 4/19/24 - Form 8-K/A
- 4/16/24 - Form 10-K
- 4/15/24 - Form S-8
- ADXS's page on the SEC website