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Cardiome prices equity offering; shares down 42% premarket

Jul. 26, 2016 9:15 AM ETCorrevio Pharma Corp. (CORV) StockCORVBy: Douglas W. House, SA News Editor2 Comments
  • Thinly traded micro cap Cardiome Pharma (CRME) is off 42% premarket on robust volume in response to its announcement that its has priced its public offering of 10M shares of common stock at $3.00 per share. Underwriters over-allotment is an additional 1.5M shares. Closing date is July 29.
  • Net  proceeds will fund the in-licensing of dalbavancin, including milestone payments related to pricing reimbursement and launches, and general corporate purposes.

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