Terns Pharmaceuticals shares are trading lower after the company announced it priced a $150.1 million public offering of 11,919,048 shares at $10.50 per share.
Portfolio Pulse from Benzinga Newsdesk
Terns Pharmaceuticals' stock is trading lower following the announcement of a $150.1 million public offering, pricing 11,919,048 shares at $10.50 each.
September 11, 2024 | 2:41 pm
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Terns Pharmaceuticals' stock is experiencing a decline after the company announced a public offering of $150.1 million, with shares priced at $10.50 each.
The announcement of a public offering often leads to a decrease in stock price due to dilution concerns. The pricing of shares at $10.50 may also be perceived as undervaluing the stock, contributing to the decline.
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