Shares of Alcobra Ltd. (ADHD) are spiking 32% in midday trading Friday, after the company announced the pricing of its previously announced underwritten public offering of 6.5 million shares at an offering price of $4 per share.
Alcobra said the net proceeds from the sale of the shares are expected to be $26 million, and that it plans to use them to fund its future clinical development programs and for general corporate purposes.
Piper Jaffray is acting as the sole manager. The offering is expected to close on January 14, 2015.
Shares of Alcobra Ltd gained $1.32 to $5.57 in recent trading.
Alexza Pharmaceuticals (ALXA) is also ripping higher this session with price breaking out to a fresh multi-month high over $2.50. It’s hard to pinpoint just what exactly is driving the 39% intraday surge in stock price given that we are not seeing any news to account for the spike. The move comes on a big volume too with the issue currently trading more than 1.3 million shares, well ahead of its three month daily average of 115,262 shares.
Alexza Pharmaceuticals is a Mountain View, Calif.-based firm that focuses on the development and commercialization of novel proprietary products for the acute treatment of central nervous system conditions worldwide. Its stock has a price/sales ratio of 6.05 with a 52-week trading range of $1.25 to $5.93. The T-12 operating margin at Alexza is (730.23%). ALXA‘s revenue for the same period is $5.42 million.
Alexza Pharmaceuticals has market cap of $44.44 million.
Edap TMS SA (EDAP) is higher by over 50% in mid-day trading after the company announced that its Focal One HIFU device has been approved by Health Canada. With this approval, the firm is able to market the Focal One device for the treatment of prostate cancer in Canada.
EDAP shares recently gained $1.09 to $3.41. In the past 52 weeks, shares of Vaulx-en-Velin, France-based company have traded between a low of $1.15 and a high of $6.05. Shares are down 21.89% year-over-year.