Corbus Pharmaceuticals Stock Sinks 27% After $75 Mln Public Offering

(RTTNews) - Corbus Pharmaceuticals Holdings, Inc. (CRBP) shares fell 27.01 percent to $12.00, down $4.44 in Friday trading, after announcing the pricing of a $75 million underwritten public offering. The company will issue 4.74 million shares at $13.00 each and 1.03 million pre-funded warrants at $12.9999 per warrant.

The stock opened at $12.00 and traded between $11.59 and $12.88, compared with a previous close of $16.44 on the Nasdaq. Trading volume reached 2.0 million shares, sharply above the average of 211,000.

Corbus shares have traded between $4.64 and $20.77 over the past 52 weeks.