December 13, 2018 / 1:01 PM / 5 months ago

BUZZ-VBI Vaccines: Slumps on overnight stock offering

** VBI Vaccines down ~13 pct to $1.44 as co gets set to price its follow-on before market open

** Stock 4th biggest pct loser across U.S. markets in premarket trading

** After the close Weds co announced proposed stock offering to fund lead product, Sci-B-Vac (hepatitis-B treatment), including ongoing Phase 3 clinical program in U.S., Europe and Canada, and other purposes

** Joint bookrunners BMO, Canaccord and Oppenheimer marketing $30 mln offering size at $1.40, ~16 pct discount to stock’s last sale

** VBIV has market value of ~$107 mln

** Last Thurs, stock rose to as high as $1.81 after co said it entered licensing deal with Brii Biosciences to develop Hep-B cure

** Shares are down 61 pct in 2018

0 : 0
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