Redhill Biopharma shares are trading lower after the company announced a $3.8M registered direct offering of 1,301,923 shares at $1.35 per share.
Portfolio Pulse from Benzinga Newsdesk
Redhill Biopharma has announced a $3.8M registered direct offering of 1,301,923 shares at $1.35 per share, leading to a decrease in its stock price.
July 21, 2023 | 3:14 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Redhill Biopharma's stock price is expected to decrease in the short term due to the announcement of a $3.8M registered direct offering of shares.
The announcement of a registered direct offering often leads to a decrease in the stock price as it dilutes the value of existing shares. In this case, Redhill Biopharma is offering over 1.3 million shares at $1.35 each, which is likely to have a negative impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100