August 14, 2019 / 4:03 PM / 2 months ago

BUZZ-Oncolytics Biotech: Slumps to record low after offering priced

(Updates)

** Biotech’s U.S.-listed shares extend premarket losses, plunge 32.2% to 61 cents to a record low after pricing stocks and warrants offering

** On track for worst day in nearly four years

** Canadian-listed shares down 34.5% at 78 Canadian cents

** Also reports bigger-than-expected Q2 loss, according to three analysts polled by Refinitiv IBES

** Offering of 4.6 mln shares and warrants priced at 81 cents, a 10% discount to stock’s last close, resulting in gross proceeds of about $3.7 mln

** Each warrant has an exercise price of 91 cents/share

** To use net proceeds for R&D

** Including session losses, ONCY down 66% YTD (Reporting by Arjun Panchadar in Bengaluru)

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