Home / Markets / Industries / Health Care
Friday, November 20, 2009
Novavax to Hold Public Offering of Common Stock
By Kathryn Glass
FOXBusiness
Vaccine-maker Novavax Inc. (NVAX) said it plans to hold a public offering for 6.8 million shares of its common stock Friday, putting downward pressure on the stock’s price.
The company will use the offering to raise $21 million in net profit, pricing the stock at $3.30 a share. Proceeds will be used to fund internal research and development programs, capital expenditures, and clinical trials and preclinical studies of its virus-like particle-based vaccines, the company said in a release. The offering will close on November 25, 2009.
Novavax has been working on the development of particle-based vaccines for several flu strains, including H1N1 swine flu and the H5N1 avian flu.
Shares of Novavax fell 49 cents, or 13%, to close at $3.28 a share. The stock was up four cents in after-hours trading.
Fox Business Video
-
-
Euro Debt Could Boost Gold
-
Feb 9, 2010
FOXBusiness.com LIVE
-
-
-
Health-Care Reform vs. Job Creation
-
Feb 9, 2010
Question of the Day
-
-
-
Ron Paul on Stimulus
-
Feb 9, 2010
Future of government bailouts?
-
-
-
U.S. No Longer the Space Explo...
-
Feb 9, 2010
Future of space program
-
-
-
Toyota Will Recover
-
Feb 9, 2010
Will the auto manufacturer bounce back?
-
Last 5 Stocks
- Ticker
- Company
- Price
- Change