Regenxbio (RGNX) lead the biotech movers Wednesday, falling 7.4% ahead of the opening bell. This move was a result of the announcement by Regenxbio that it would sell 3.7 million shares through a secondary offering. Regenxbio was trading at $20.40 ahead of market's open Wednesday after sinking 8% Tuesday and continuing to fall Wednesday morning. The secondary offering was priced at $20.50 per share.
Valeant (VRX) , meanwhile, was also having a decent morning. The company's shares were up 1.5% ahead of market's open on news that it completed previously announced refinancings.
Global Blood Therapeutics (GBT) was also falling Wednesday morning. Shares were down 2.9% ahead of market's open after falling about the same amount Tuesday. Shares were hovering at $35.25 apiece before market's open.
Alnylam Pharmaceuticals (ALNY) shares were also down 2.4% ahead of market's open Wednesday. The company's stock had a rough day Tuesday, falling 9.2%. Shares were at $53 apiece ahead of market's open.
Meanwhile, Trevena (TRVN) was bouncing back Wednesday morning after performing poorly on Tuesday. The company had fallen 5.5% before closing bell Tuesday. But shares bounced back ahead of market's open Wednesday. Shares were up 8%, hitting $3.69 apiece.
Kite Pharma (KITE) was also gaining Wednesday after performing poorly on Tuesday. The company's shares were up nearly 2% ahead of market's open, hitting $77.66 apiece. This was after the company's shares fell nearly 10% Tuesday.