Why VolitionRX Stock Is Nosediving Friday

VolitionRX Ltd VNRX shares are trading lower by 13.24% to $1.77 Friday morning after the company announced pricing of a 4.3 million share common stock offering at $1.75 per share.

What Else?

Volition says the offering is expected to close on or about February 22, subject to the satisfaction of customary closing conditions.

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Volition intends to use the net proceeds from the offering for research and continued product development, clinical studies, product commercialization, working capital and other general corporate purposes, including potential strategic acquisitions.

According to data from Benzinga Pro, VNRX has a 52-week high of $3.30 and a 52-week low of $1.31.