NEW YORK (
was among several stocks poised to move on above-average volume Thursday after the biotech company announced a proposed public offering of common stock and warrants.
said it intends to offer shares of its common stock and common stock purchase warrants, with a pricing expected to be announced before the start of trading Thursday. The warrants consist of five-year warrants and nine-month warrants, Discovery said.
Earlier this week, Discovery Labs said it secured a new equity financing deal Monday with Kingsbridge Capital Ltd. for up to $35 million of capital over three years. That came after Discovery Labs said last week that its new drug candidate Surfaxin failed to show a significant reduction in the time children with acute respiratory failure spent on mechanical ventilation.
Discovery Labs dropped by 5 cents, or 15.9%, to 30 cents in the premarket session. The three-month average daily share volume for Discovery Labs is 2.05 million.
More on Biotech 13 Drugs Facing FDA Approval Decisions
On the other hand,
rose by 37 cents, or 6.9%, to $5.74 in the premarket session after the company announced a collaboration with Boehringer Ingelheim to research and develop small molecule GPR119 agonists for the treatment of Type II diabetes.
As part of the agreement, Neurocrine will receive an upfront payment of $10 million and is eligible to receive up to $225 million in milestone payments. The 50-day average daily volume for Neurocrine is 1.04 million.
On Wednesday, shares of Neurocrine jumped 14.2% after the company signed a collaboration deal with
to develop and commercialize an experimental drug to treat endometriosis.
FelCor Lodging Trust
added 8 cents, or 1.4%, to $5.67 in the premarket session after the company priced an offering of 27.5 million shares of common stock at $5.50 per share. The three-month average daily volume for is 1.16 million.
-- Written by Robert Holmes in Boston
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