BioVie Shares Slump After $20M Public Stock Offering

BioVie Shares Slump After $20M Public Stock Offering

BioVie Inc.’s shares were down sharply Monday after the drug-therapies developer priced a $20 million equity raising.

In morning trading, the shares were 36% lower at $8.25, for a drop of 52% since the end of last year.

BioView late Sunday said a public offering of 2.5 million class A shares priced at $8 each. The underwriters have a 45-day option to buy up to 375,000 additional shares to cover any over-allotments. The stock closed last Friday at $12.85.

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