Here's Why Nabriva Therapeutics PLC Is Soaring Today

For the second day in a row, investors in Nabriva Therapeutics (NASDAQ: NBRV) are enjoying double-digit gains. Shares of the clinical-stage biotech are up 15% as of 11:30 a.m. EDT on Tuesday. The gains can be credited to the news that it is raising capital through a secondary common stock offering and from some bullish Wall Street commentary.

Nabriva stated that it is seeking to raise $80 million through a public stock offering. The underwriters of the deal are also being granted an option to purchase an additional $12.0 million of shares. In total, this capital raise could add up to $92 million in cash to the company's balance sheet before subtracting fees.

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Source: Fool.com