Stock Track | Geron Plummets 6.55% Intraday on $150 Million Stock Offering Plan
Stock Track
Mar 02
Geron's stock plummeted 6.55% during intraday trading on Monday, following the company's regulatory filing for a new stock offering.
The biopharmaceutical company filed an automatic mixed securities shelf registration with the SEC, including a sales agreement prospectus covering the offering of up to $150 million of common stock that may be issued from time to time.
Such shelf offerings typically allow companies to sell securities over time, and the announcement of a potential equity raise often leads to investor concerns about share dilution, which appears to have driven the stock's decline in today's session.
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