PTLA Stock Slides on New Stock Offering: What to Expect Next

PTLA Stock

Portola Pharmaceuticals (NASDAQ:PTLA) today announced that it would offer $200 million USD of its common stock in an underwritten public offering. PTLA stock fell 1.7% to $30.11 off the back of the announcement.

PTLA Stock Offering

Portola is a San Francisco-based pharmaceuticals company that specializes in the research, development, and commercialization of drugs used in the treatment of thrombosis and hematological malignancies. The company also announced that it expects to grant the underwriters a 30-day option to purchase up to an additional $30 million of its common stock in connection with the offering.

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