Biotech firm Vaxart falls after announcing $15 mln stock offering

Vaxart

07/06/2023 16:21

** Biotechnology company Vaxart Inc's shares  VXRT.O  down
28% at $0.89
    ** Vaxart prices its offering of 16 million shares for gross
proceeds of $15 mln 
    ** Price represents a 24.4% discount over last close of
$1.24 on June 6 
    ** The share sale is expected to close on or about June 9,
with Cantor Fitzgerald and Co acting as the sole book-running
manager
    ** Three of 4 brokerages rate the stock "buy" or higher, 1
rates it "hold"; their median PT is $6.50 - Refinitiv data
    ** Shares of Vaxart down 6.8% this year, including session's
moves

 (Reporting by Pritam Biswas)
 ((Pritam.Biswas@thomsonreuters.com))