ACADIA Prices Public Offering and 2 Other Hot Stocks to Watch
ACADIA Pharmaceuticals (NASDAQ:ACAD): Current price $13.28
On Wednesday, the firm reported the pricing of an underwritten public offering of 8 million shares of its common stock, at a price to the public of $12.50 per share. It is anticipated that the gross proceeds to ACADIA should be $100 million, prior to deducting underwriting discounts and commissions and other estimated offering expenses payable by the company. ACADIA will allow the underwriters a 30-day option to buy up to a total of 1.2 million shares to cover any over-allotments. The offering should close on or around May 20.
Gilead Sciences (NASDAQ:GILD): Current price $56.88
Gilead has announced that its corporate presentation will be webcast from the Bank of America Merrill Lynch 2013 Health Care Conference in Las Vegas. President and Chief Operating Officer John F. Milligan, PhD, and Senior Vice President and Chief Financial Officer Robin Washington will give an overview of the firm at the conference on May 15 at 9:20 a.m. Pacific Time.
Rockwell Medical (NASDAQ:RMTI): Current price $3.40
Rockwell announced Wednesday that it has priced an underwritten public offering of 11,475,410 shares of its common stock at a price to the public of $3.05 per share, which should bring gross proceeds of $35.0 million. The net proceeds, after subtracting the underwriters’ discounts and other estimated expenses payable by the company, will be roughly $32.8 million. Rockwell will also permit the underwriters a 30-day option in which to buy up to an additional 1,721,312 shares of common stock to cover overallotments, if any. The firm is a fully-integrated biopharmaceutical company that targets end-stage renal disease and chronic kidney disease, with innovative products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis.
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