Galena prices offering, shares plunge

• Galena Biopharma (GALE -16.4%) craters after announcing a public offering of common stock and warrants Thursday evening.
• The company priced the offering at $2/unit Friday.
• The units comprise one share of common and a warrant to buy 0.35 of a share at $2.50/share.
• There's also an underwriter option for another 2.6M shares of common and/or warrants for ~919K shares. (PR)