What's Going On With Vaccinex Stock Wednesday?
Portfolio Pulse from Dylan Berman
Vaccinex, Inc. (NASDAQ:VCNX) shares fell 14.2% after the company announced $6.2 million in proceeds from warrant exercises and the issuance of new warrants. The exercise involved 1,067,492 shares at $5.36 each, resulting in 827,483 shares issued and pre-funding of 240,009 shares. New warrants were also issued.
September 18, 2024 | 5:33 pm
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NEGATIVE IMPACT
Vaccinex shares dropped 14.2% following the announcement of $6.2 million from warrant exercises and new warrant issuance. This move dilutes existing shares, impacting stock price negatively.
The issuance of new shares and warrants typically leads to dilution, which can negatively impact stock prices. The 14.2% drop in Vaccinex's stock price reflects investor reaction to this dilution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100