Portola Pharmaceuticals sinks on news of public offering

|About: Portola Pharmaceuticals (PTLA)|By:, SA News Editor

Portola Pharmaceuticals (PTLA -7.1%) falls sharply after announcing a $100M public offering.

The deal will reportedly include shares from selling stockholders.

The company intends to use a portion of the proceeds to "support the pursuit of an accelerated approval process for Andexanet alfa." (PR)