Here's Why NewLink Genetics Corp. Stock Is Surging Again Today

Shares of NewLink Genetics Corp. (NASDAQ: NLNK), a clinical stage biotech with an oncology focus, are rising in response to a secondary offering that ended up priced much better than anticipated. Instead of hammering the stock as expected, yesterday's pricing announcement has lifted the stock 13.7% higher as of 11:58 a.m. EDT.

Last month, NewLink released data that suggests its lead candidate, indoximod, has a shot at earning approval to treat advanced melanoma patients in combination with Keytruda or Opdivo. The news sent the stock screaming higher and prompted the company to initiate a secondary offering to bolster its cash reserves.

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Source: Fool.com