Shares of Oncolytics Biotech (ONCY -13.8%) tank on resumption of trading after pricing its 8M...

|By:, SA News Editor

Shares of Oncolytics Biotech (ONCY -13.8%) tank on resumption of trading after pricing its 8M share offering at $4, a 14% discount to Tuesday's close. The drug developer's shares were halted in premarket trading as the company disclosed the details. The company, which had had about 76.8M shares outstanding before today, unveiled the offering yesterday to raise funds for its clinical-trials and manufacturing programs.