Bullish
$ZSAN Did the dilution cause an over reaction -48% seems like a pretty massive drop the other day. The chart looks bullish is h*** right now though any thoughts? Zosano Pharma Shares Fall 48% on Public Offering >ZSAN BY Dow Jones & Company, Inc. — 12:18 PM ET 02/12/2020 Zosano Pharma Corp. ( ZSAN Loading...) shares dropped 48% to 54 cents after the company priced a public offering. The clinical-stage biopharmaceutical company priced its underwritten public offering of 10.1 million class A units at 65 cents each, and 2.2 million class B units at 64.99 cents a B unit. It has granted the underwriter a 30-day option to purchase up to an additional 1.8 million shares. Zosano said proceeds from the offering are expected to be $8 million. The offering is expected to close on or about Feb. 14. Zosano said it intends to use the proceeds for pre-commercialization activities, and general working capital and corporate purposes. Write to Chris Wack at chris.wack@wsj.com
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