Oncolytics Biotech: Slumps to record low after offering priced

Oncolytics Biotech

14/08/2019 16:59

(Updates)
    ** Biotech's U.S.-listed shares  ONCY.O  extend premarket
losses, plunge 32.2% to 61 cents to a record low after pricing
stocks and warrants offering
    ** On track for worst day in nearly four years
    ** Canadian-listed shares down 34.5% at 78 Canadian cents
    ** Also reports bigger-than-expected Q2 loss, according to
three analysts polled by Refinitiv IBES  urn:newsml:reuters.com:*:nACSW1SSla
    ** Offering of 4.6 mln shares and warrants priced at 81
cents, a 10% discount to stock's last close, resulting in gross
proceeds of about $3.7 mln
    ** Each warrant has an exercise price of 91 cents/share
    ** To use net proceeds for R&D  urn:newsml:reuters.com:*:nACSbWHFLa
    ** Including session losses, ONCY down 66% YTD

 (Reporting by Arjun Panchadar in Bengaluru)