Long Line of Biotech Secondary Stock Offerings (MNKD, IDIX, ISPH, ARIA, ONTY, NBY, SOMX, ARNA, OXGN)August 5, 2009 by Douglas A. McIntyre
It seems that there is another endless line of biotech and emerging pharmaceutical companies which have raised cash or have filed to raise cash. MannKind Corporation (NASDAQ: MNKD), Idenix Pharmaceuticals Inc. (NASDAQ: IDIX), and Inspire Pharmaceuticals, Inc. (NASDAQ: ISPH) have all priced secondary offerings of common stock for close to $175 million total among all three offerings this morning alone. Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) had its pricing yesterday of a secondary offering and Oncothyreon Inc. (Nasdaq: ONTY) announced terms for a direct offering of securities. NovaBay Pharmaceuticals, Inc. (NYSE: NBY) filed this week for a capital raise.
Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX), Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), and OXiGENE, Inc. (NASDAQ: OXGN) have all filed this week with the SEC for the resale of securities by secondary offering and private placement buyers in recent weeks.
You can read the full story with details on each offering over at BioHealthInvestor.com.
And imagine this… it is only Wednesday.
-The 24/7 Wall St. Team