Small-cap stocks were underperforming the major indices Thursday, and among the biggest losers was Vanda Pharmaceuticals (VNDA Quote).
Shares of the Maryland biopharma company slumped more than 25% after it proposed to sell $100 million worth of convertible senior bonds to institutional buyers. Initial purchasers will have an option for $25 million more in order to cover overallotments. Proceeds are planned for commercialization and R&D costs, among other things. Shares were off $3.85 to $11.15.
Biopure (BPUR Quote), another health-care name, agreed to sell 16.85 million equity units for 85 cents apiece, with each to consist of one freshly minted share and a warrant to purchase another new share with a $1.06 exercise price. Underwriters have an overallotment option for roughly another 2.53 million units. Shares of the Cambridge, Mass., company slid 28% to 77 cents. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,388.90 | 1,105.98 | 2,194.35 | 34.83 |
Oil *
77.74
|
|
UP
22.75
|
UP
6.06
|
UP
21.21
|
UP
1.03
|
10 Yr
3.48%
SPDR Gold
113.75
|
|
+0.22%
|
+0.55%
|
+0.98%
|
+3.05%
|
Data delayed 20 minutes |
Connect with TheStreet