Novavax, Inc. (NASDAQ:NVAX) announced that it will bring a secondary offering of $100 million in new stock. The stocks took a hit and plunged by more than 7%. The company has announced the pricing of the public offering of 25 million shares of common stock. The underwritten public offering offered will be available to public at $4 per share. It will generate gross proceeds of around $100 million for the company. An amount of approximately $94 million will be deducted as underwriting discount from the net proceeds. The underwriters will have a 30 day option to purchase up to $15 million in additional 3.75 million shares. If it succeeds, the total shares offered will reach 28.75 million shares of its common stock. Novavax, Inc. (NASDAQ:NVAX) weekly performance is -11.57%. On last trading day company shares ended up $4.16. Analysts mean target price for the company is $11.00. Novavax, Inc. (NASDAQ:NVAX) distance from 50-day simple moving average (SMA50) is -3.57%.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) on June 3 announced the initiation of dosing in an investigational Phase 1b clinical trial of APD334, a novel, oral drug candidate that targets the sphingosine 1-phosphate subtype 1 (S1P1) receptor, to evaluate the compound for the treatment of a number of autoimmune diseases. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares fell -2.44% in last trading session and ended the day on $6.00. ARNA gross Margin is 93.70% and its return on assets is -8.10%.Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) quarterly performance is -15.73%.
MannKind Corporation (NASDAQ:MNKD) VP Juergen Martens unloaded 120,000 shares of MannKind stock on the open market in a transaction dated Thursday, June 5th. The stock was sold at an average price of $11.00, for a total transaction of $1,320,000.00. Following the completion of the transaction, the vice president now directly owns 114,024 shares in the company, valued at approximately $1,254,264. MannKind Corporation (NASDAQ:MNKD) shares moved up 2.39% in last trading session and was closed at $10.28, while trading in range of $9.85 – $10.42. MannKind Corporation (NASDAQ:MNKD) year to date (YTD) performance is 97.69%.
Gilead Sciences Inc. (NASDAQ:GILD) CFO Robin L. Washington unloaded 6,426 shares of Gilead Sciences stock on the open market in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $82.52, for a total transaction of $530,273.52. Gilead Sciences, Inc. (NASDAQ:GILD) ended the last trading day at $82.39. Company weekly volatility is calculated as 1.58% and price to cash ratio as 19.56.Gilead Sciences, Inc. (NASDAQ:GILD) showed a positive weekly performance of 1.45%.
VIVUS, Inc (NASDAQ:VVUS) is a biopharmaceutical company which makes medicines for sleep disorder, obesity and diabetes. The company’s shares declined considerably after performing well in the last couple of days. Aspen Investment Fund LLC may make an offer to take over the drug maker, which is VVUS has stated in their regulatory filing with the SEC. However, looking at the filing done by the VVUS, there are certain points which need to be examined closely. VIVUS, Inc. (NASDAQ:VVUS) weekly performance is 6.90%. On last trading day company shares ended up $5.27. Analysts mean target price for the company is $6.00. VIVUS, Inc. (NASDAQ:VVUS) distance from 50-day simple moving average (SMA50) is 2.00%.
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