What's Going On With Biodexa Pharmaceuticals Stock (BDRX) Today?
Portfolio Pulse from Henry Khederian
Biodexa Pharmaceuticals PLC-ADR (NASDAQ:BDRX) stock fell 6.8% to $4.76 after announcing a Class A Units offering at $2.79 each. The drop follows an 83% surge on Monday due to acquiring rights to tolimidone from Pfizer Inc., which may treat Type-1 diabetes. Biodexa is preparing for a Phase II study and has a deal with Adhera that includes milestone payments and royalties. The transaction is expected to close in Q4 2023. BDRX's 52-week range is $2.26 to $579.20.
November 28, 2023 | 2:11 pm
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Biodexa Pharmaceuticals' stock price dropped after announcing a public offering at a price significantly lower than the current trading price, indicating potential dilution for existing shareholders.
The stock price decline is likely due to the new offering being priced much lower than the current market price, which suggests dilution of value for current shareholders. Additionally, the recent surge in stock price due to the acquisition of tolimidone may have been tempered by the announcement of the offering.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100