Why Is VBI Vaccines (VBIV) Stock Down 40% Today?

VBI Vaccines (NASDAQ:VBIV) stock is taking a beating on Thursday after the pharmaceutical company announced two stock offerings.

VBI Vaccines announced both a public stock offering and a registered directing offering for shares of VBIV stock. The company notes that the public offering will include shares of VBIV alongside warrants to purchase additional shares.

To go along with this, underwriters will have a 30-day option to acquire additional shares of VBIV stock in the offering. That will allow them to acquire an additional 15% of the shares or warrants offered. The underwriters for this offering are Raymond James & Associates, Inc. and Newbridge Securities Corporation.

As for the registered direct offering, there is no underwriter or placement agent. The company notes that all shares in both it and the public offering are being sold by it. Both offerings are subject to market conditions.

VBI Vaccines has also laid out plans for the money generated from these two offerings. It will use these funds for the commercialization activities for PreHevbrio in the U.S. Europe, and Canada, as well as other clinical development purposes.

VBIV Stock Movement On Thursday

VBI Vaccines stock is seeing heavy trading alongside its stock offering news. This has more than 1.4 million shares of the company’s stock changing hands as of this writing. For the record, its daily average trading volume is about 751,000 shares.

VBIV stock is down 39.7% as of Thursday morning.

Investors can find more of the most recent stock market news down below!

We’ve got all of the latest stock market news traders need to know about on Thursday! A few examples include what’s moving shares of Akumin (NASDAQ:AKU) and Mullen Automotive (NASDAQ:MULN) stock higher this morning, as well as the biggest pre-market stock movers for today. All of that news is ready to go at the links below!

More Stock Market News For Thursday

• Why Is Akumin (AKU) Stock Up 31% Today?
• Why Is Mullen Automotive (MULN) Stock Up 45% Today?
• Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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