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Oncogenex surprises market with $47M secondary offering

This article was originally published in Scrip

Executive Summary

OncoGenex Pharmaceuticals saw its stock price drop more than 20 percent on 16 March when it announced it would sell 4.2 million shares in a common stock offering priced at $12 per share. The stock drop may represent surprise at the news of the offering, since the company had told stockholders at the release of its latest quarterly results on 8 March 2012 that it had enough money to support its operations into 2014.



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