ImmunoCellular Slumps On Equity Offering (IMUC, LXRX, ALGN, SCSS, VRNG)
ImmunoCellular Therapeutics Ltd(NYSEAMEX: IMUC) moved down 14.94% to $2.05 on a traded volume of 2.43 million shares.The Company announced the pricing of 10 million shares at a 13% discount to Wednesday’s close. The Company also is offering warrants to purchase as many as 4.5 million additional shares. The Company intends to use proceeds for the continuing clinical development of its brain cancer treatment and lead pipeline productand for general corporate purposes.
Lexicon Pharmaceuticals Inc (NASDAQ:LXRX) declined 10.40% to $2.24 on a traded volume of 4.01 million shares.The Company announced the pricing of a public offering in which the aggregate net proceeds to Lexicon will be approximately $37.2 million. The public offering consists of 17,500,000 shares at a public offering price of $2.25 per share. The Company has also granted the underwriters a 30-day option to purchase up to an aggregate of 2,625,000 additional shares of common stock. J.P. Morgan Securities LLC and Jefferies & Company Inc are acting as joint book-runners for the offering.
Align Technology Inc (NASDAQ:ALGN) plunged 26.72% to $25.91 on a traded volume of 8.07 million shares.Straumann Holding AG and Align TechnologyInc have decided to discontinue their distribution agreements for the iTero intra-oral scanner in Europe and North America with effect of December 31, 2012. The agreement awarding Straumann non-exclusive distribution rights in North America was signed shortly before the acquisition.
Select Comfort Corp (NASDAQ:SCSS) went down 9.81% to $29.42 on a traded volume of 2.03 million shares.The Company reported third quarter net income of $26.2 million or 46 cents per share compared to $17.2 million or 31 cents per share in the prior year period. However, analyst expected earnings of 40 cents per share.Revenue increased 24% to $246.8 million.The same-store sales increased 21% as more customers visited its sleep number stores.
Vringo Inc (NYSEAMEX: VRNG) slipped 3.08% to $4.09 on a traded volume of 3.03 million shares. The Company filed a lawsuit against ZTE U.K. unit for alleged infringement of its patents for handsets, base stations and base station controllers.