Onconova Therapeutics’ stock price fell 15 percent Friday after the publicly traded Bucks County biopharmaceutical company, which is focused on developing cancer therapies, announced plans for a $5.2 million stock sale.
The Newtown, Pa., company priced its offering of just under 2.5 million shares of common stock at $2.10 per share. Underwriters have been given a 45-day option to purchase an additional 364,000 shares to cover overallotments.
Onconova’s stock closed at $2.11 a share, a 37 cent…
Onconova Therapeutics’ stock price fell 15 percent Friday after the publicly traded Bucks County biopharmaceutical company, which is focused on developing cancer therapies, announced plans for a $5.2 million stock sale.
The Newtown, Pa., company priced its offering of just under 2.5 million shares of common stock at $2.10 per share. Underwriters have been given a 45-day option to purchase an additional 364,000 shares to cover overallotments.
Onconova’s stock closed at $2.11 a share, a 37 cent…