Harmony Biosciences shares are trading lower after the company announced a public offering of up to 8 million shares of common stock by selling shareholders Marshman Fund Trust II and Valor IV Pharma Holdings.
Portfolio Pulse from Benzinga Newsdesk
Harmony Biosciences shares are declining following the announcement of a public offering of up to 8 million shares by selling shareholders Marshman Fund Trust II and Valor IV Pharma Holdings.
October 30, 2024 | 6:47 pm
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Harmony Biosciences shares are trading lower due to a public offering of up to 8 million shares by major shareholders, which can lead to stock dilution.
The announcement of a public offering by major shareholders typically leads to a decrease in stock price due to potential dilution. The market often reacts negatively to such news as it increases the supply of shares, which can lower the stock's value.
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