Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why EyePoint Pharmaceuticals Is Cratering Today

TheMotleyFool

0 0

Why EyePoint Pharmaceuticals Is Cratering TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) are down by a jaw-dropping 27.1% as of 1:08 p.m. EST Friday afternoon. The eye care specialist's stock is nosediving today in response to a secondary offering announced after the closing bell on Thursday.

What appears to be drawing shareholders' collective ire today is the offering price. EyePoint announced that it plans to offer 15 million shares of its common stock at $1.45 per share. This offering price is a staggering 25.6% discount relative to where the drugmaker's shares closed on Thursday.

Image source: Getty Images.

Source Fool.com

Like: 0

EYPT

Share