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.