Denver Business Journal
Array BioPharma Array BioPharma Latest from The Business Journals Colorado stocks: Level 3 up 9%; Western Union down 10%Colorado stocks: Array BioPharma up 7.5%, Cimarex, EchoStar up 5%Colorado stocks: Gasco up 10%, Ascent Solar up 9% Follow this company , a biotech drug company, on Thursday set a $2.60 per-share price for 20 million shares of common stock that the company’s offering to raise money for drug research and development.
The Boulder company’s offering is expected to end Feb. 14. Proceeds of the stock sale, prior to underwriting costs and other expenses, would be $52 million.
The share prices were nearly 19 percent lower than the $3.20 price Array’s shares traded at when the market closed Wednesday. Array stock (Nasdaq: ARRY) had been buoyed recently by the company’s second-quarter earnings announcement issued Jan. 30.
Its share price dropped sharply in Thursday morning trading as a result of the offer pricing.
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