Arena Pharma (ARNA) Volatility Elevated, Shares Higher After Close of $70M Offering

May 22, 2012 10:11 AM EDT Send to a Friend
Arena Pharmaceuticals (Nasdaq: ARNA) shares are drawing some attention Tuesday following the announcement late Monday underwriters on its 12.65 million offering exercised the full over-allotment of 1.65 million shares, for a total gross sale of $69.6 million.

Implied volatility is 5 percent above Monday's close with Arena currently at 43.8 percent of its trailing annual average.

Shares are 5 percent higher on the session.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Equity Offerings, Momentum Movers, Options

Related Entities

Options

Add Your Comment