Here's Why Alder Biopharmaceuticals Inc Stock Is Bouncing Back

Investors in Alder Biopharmaceuticals (NASDAQ: ALDR) are having another wild day. Shares of the clinical-stage biopharma rose as much as 15.5% on Thursday after the company released the pricing details of its just announced common-stock offering. As of 12:43 p.m. EDT, the stock was up 13.7%.

Alder stated that it is selling 15 million shares of its common stock for $10 each. In addition, the underwriters of the deal have been granted a 30-day option to purchase up to 2.25 million additional shares at the offering price. The deal is expected to close early next week and could add up to $172.5 million to the company's bank account before subtracting fees.

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Source: Fool.com