Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., Aug. 17, 10:32 AM
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Slide #3. Portola Pharmaceuticals, Inc. — Secondary Offering
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Portola Pharmaceuticals, Inc. (Nasdaq: PTLA) today announced plans to offer, subject to market and other conditions, $200 million of its common stock in an underwritten public offering. The company expects to grant the underwriters a 30-day option to purchase up to an additional $30 million of its common stock in connection with the offering. All of the shares of common stock in the offering will be sold by Portola Pharmaceuticals. -updated 8/13- Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) today announced the pricing of its underwritten public offering of 8,035,715 shares of its common stock at a price to the public of $28.00 per share. In addition, the underwriters of the offering have been granted a 30-day option to purchase up to an additional 1,205,357 shares from Portola at the public offering price. The offering is expected to close on August 16, 2019, subject to customary closing conditions.
Portola Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic diseases and inflammation for patients who have limited or no approved treatment options. Co.'s primary product is Andexxa, an antidote for patients treated with rivaroxaban or apixaban, when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding. Bevyxxa is an anticoagulant approved for hospital and extended duration prophylaxis of venous thromboembolism in adult patients. Cerdulatinib is Co.'s investigational oral, dual spleen tyrosine kinase and janus kinase inhibitor.
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Strong Buy (3.50 out of 4)
(ranked higher than approx. 62% of all stocks covered)
Based on Zacks ABR data;
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