Shares of Dare Bioscience Inc. plummeted 41% toward a record low Tuesday, enough to make them the day’s biggest decliners on major U.S. exchanges, after the biopharmaceutical company announced a public stock offering. The second-biggest decliners were shares of Helios & Matheson Analytics Inc. , which plunged 29% after an equity offering. Dare said it was raising $10.25 million with its offering, which included 5.0 million common shares and warrants to buy 3.5 million common shares. That could potentially more than double the number of shares outstanding, which totaled 6.05 million shares as of Nov. 6. Dare’s stock has now tumbled 89.3% over the past 12 months, while the S&P 500 has gained 13.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News