S&P 500
7,633.20
+0.31%
Dow Jones
53,893.00
+1.14%
Nasdaq 100
29,106.20
+0.99%
Russell 2000
2,995.41
+0.37%
FTSE 100
10,904.40
+0.20%
Nikkei 225
64,309.90
+1.28%

Health and Healthcare

OncoGenex Prices Secondary Offering, Shares Fall (OGXI)

Photo of Paul Ausick
By Paul Ausick Published

Invalid Image
Cancer therapy developer OncoGenex Pharmaceuticals Inc. (NASDAQ: OGXI) has priced a secondary offering of 4.165 million common shares at $12.00/share, a discount of 31% to yesterday’s closing price of $17.43. Needless to say the shares are getting pounded today.

OncoGenex expects to realize about $46.8 million from the offering, net of fees and expenses. Leerink Swann LLC and Stifel Nicolaus Weisel are acting as joint book-running managers and Lazard Capital Markets LLC and William Blair & Company, L.L.C. are acting as co-managers. The underwriters have a 30-day over-allotment option of 624,750 shares.

The company did not specify how it plans to use the proceeds from the sale.

Shares are down nearly -20% at $13.99 in a 52-week range of $8.63-$18.99.

Contact [email protected] for any questions or corrections.

Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Here's How You Can Retire to the Beaches of Florida's Gulf Coast at 59
Michael Williams |

Here's How You Can Retire to the Beaches of Florida's Gulf Coast at 59
What a $2.2 Million Portfolio Actually Pays After Taxes in Florida vs. New York
Michael Williams |

What a $2.2 Million Portfolio Actually Pays After Taxes in Florida vs. New York

Continue Reading

Jon C. Ogg |

Top Active Trader Alert Stocks (ABK, AAPL, ARMH, CTIC, CWTR, INFN, MSFT, OGXI)

Active traders and day traders have many stocks to choose from this Wednesday morning.  We are tracking news and moves…

6 Biotechs Seriously on the Move
Chris Lange |

6 Biotechs Seriously on the Move

A few biotech companies made fantastic runs in Thursday’s session. We have included information about each company, as well as…

4 Biotech IPOs Hoping to Become First U.S. IPO of 2016
Paul Ausick |

4 Biotech IPOs Hoping to Become First U.S. IPO of 2016

To say that the month of January was a bust for initial public offerings (IPOs) is an understatement. January was…

Paul Ausick |

Busiest IPO Week of the Year: 14 Companies on the Calendar

ThinkstockFour of last week’s six initial public offering (IPO) candidates successfully launched into the public equity markets, but the reception…

3 New Biotech IPOs on Calendar for Next Week
Paul Ausick |

3 New Biotech IPOs on Calendar for Next Week

Blank-check company KLR Energy Acquisition Corp. (NASDAQ: KLREU) completed its initial public offering (IPO) last Friday, the first successful IPO…

Week of November 9 Sees 9 IPOs on the Calendar
Paul Ausick |

Week of November 9 Sees 9 IPOs on the Calendar

Two holdovers and seven new entries are on the coming week's IPO calendar, including four biotechs and two financial companies.

Paul Ausick |

7 Health Care IPOs on Next Week’s Calendar

ThinkstockLast week was not a standout for initial public offerings (IPOs). There were three on the calendar, and only a…

Paul Ausick |

Health Care Dominates IPO Schedule for First Week of February

Including one holdover from last week, there are 12 IPOs on the calendar for the first week of February.

Paul Ausick |

8 IPOs on the Calendar for Week of July 13

The initial public offering (IPO) calendar heats up again in the week of July 13, with eight offerings scheduled to…

Top Gaining Stocks

Airbnb
ABNB • Vol: 15,913,532
Microchip Technology
MCHP • Vol: 19,139,274
Palantir
PLTR • Vol: 77,244,625
Moderna
MRNA • Vol: 6,820,582
Axon Enterprise
AXON • Vol: 1,591,869

Top Losing Stocks

Trade Desk
TTD • Vol: 133,458,224
Coterra Energy
CTRA • Vol: 73,319,495
Akamai
AKAM • Vol: 8,143,961
Zoetis
ZTS • Vol: 12,784,553
ResMed
RMD • Vol: 3,810,438