April 13, 2018 / 11:56 AM / 5 months ago

BUZZ-EyeGate Pharma: Sees red on stock and warrants offering

** EyeGate Pharmaceuticals down 27 pct to $0.28 premarket as co raises about $11 mln of equity

** EYEG the only one negative among 10 most actively traded stocks premarket

** Eye drug developer prices 35.2 mln stock and warrants offering at $0.32, ~16-pct discount to stock’s Thurs close

** Each share of common stock comes with related warrant to purchase an aggregate of 35.2 mln shares; warrants expire in 5 years and have exercise price of $0.32/sh

** EyeGate had 17.3 mln total shares outstanding as of Apr 6; offering represents 60 days of trading volume

** EYEG shares jumped to as high as $0.80 last Fri after co received milestone payment from Valeant Pharma for its drug to treat non-infectious anterior uveitis, an inflammation of the eye’s middle layer

** EYEG shares have fallen 64 pct YTD

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