On the other hand, Pharmacyclics (PCYC) shares rose after the company announced a registered direct offering of approximately 6.15 million shares of common stock at $6.51 per share. Proceeds will be used for general corporate purposes, including clinical trials, preclinical research expenses, general and administrative expenses and for working capital.
Pharmacyclics shares were climbing by 10.5% to $7.19.
AEterna Zentaris (AEZS) shares, meanwhile, dropped 9.9% to $1.18 after the company said it will raise $12.1 million in a registered direct offering with institutional investors.
AEterna Zentaris said it will sell approximately 8.8 million common shares at a price of $1.3725 per share to and issue warrants to acquire an aggregate of approximately 4.4 million common shares at an exercise price of $1.3725 per share.In IPO news, BroadSoft (BSFT) priced its initial offering of 7.5 million shares of common stock at $9 per share, which is at the bottom of its projected range. The communications software company will raise $67.5 million through the IPO. -- Written by Robert Holmes in Boston. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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