Zai Lab launches equity offering; shares down 1% after hours
Zai Lab (NASDAQ:ZLAB) commences a public offering of 5.5M American Depositary Shares (ADSs), each representing one ordinary share.
Current investor QM11 intends to offer 500K ADSs as well.
Underwriters’ over-allotment is an additional 800K ADSs from the company and 100K from QM11.
Price and terms have yet to be announced.
Shares down 1% after hours.
Lilly to invest $470M in North Carolina site
Eli Lilly (LLY +0.7%) will invest over $470M to build a new pharmaceutical manufacturing facility in North Carolina’s Research Triangle Park. The site will employ over 460 people once on line.
NanoViricides rallies 113% on China virus
Thinly traded nano cap NanoViricides (NNVC +113.1%) jumps on more than a 5x surge in volume, albeit on turnover of only 219K shares, in apparent reaction to the spread of an unknown respiratory virus in China that has claimed six lives.
Novavax, Inovio Pharmaceuticals, and BioCryst Pharmaceuticals are up as well.
Update: Giddy investors are also driving up ImmuCell (ICCC +15.3%) and Aethlon Medical (AEMD +23.3%).
Tetra Bio-Pharma secures C$10M capital raise
Tetra Bio-Pharma (OTCQB:TBPMF) inks an agreement with Echelon Wealth Partners for the purchase of ~18.9M units at C$0.53 per unit for a total of C$10M.
Each unit consists of one common share and one three-year warrant to purchase one common share at C$0.75.
Closing date of the bought deal transaction is February 13.
