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Shares Of Galena Biopharma Plunged On Thursday, Company Announces Public Offering

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Shares of Galena Biopharma Inc (NASDAQ: GALE) plunged more than 30 percent Thursday morning after the company announced a public offering of common stock and warrants.

Galena Biopharma, a biopharmaceutical company that focuses on oncology therapeutics, stated on Wednesday afternoon it will offer shares of its common stock and warrants in an underwritten public offering.

Galena Biopharma stated it will use the net proceeds to fund its ongoing Phase 3 PRESENT study and other clinical trials, in addition to augmenting its working capital for general corporate purposes.

Posted-In: Galena BiopharmaBiotech News Short Ideas Offerings Movers Trading Ideas General


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