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Ardea Biosciences (RDEA) Lower Following Pricing of 8.5M Common Offering

February 1, 2012 8:56 AM EST
RDEA Hot Sheet
Overall Analyst Rating:
    NEUTRAL (Down Down)

Revenue Growth %: -15.3%
Ardea Biosciences, Inc. (Nasdaq: RDEA) shares are over 5 percent lower early following pricing of its 8.5 million common stock offering. The firm priced the shares at $17 each, a discount of 6.5 to Tuesday's closing of $18.19.


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