Why Adaptimmune Therapeutics Shares Dropped 14.7% on Monday
Shares of clinical-stage biopharmaceutical company Adaptimmune Therapeutics (NASDAQ: ADAP) fell 14.7% on Monday, dropping to $1.86. The stock has a 52-week low of $1.69 and a 52-week high of $6.86.
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The company specializes in using cell therapies to fight various cancers. On Monday, it filed a preliminary proxy statement with the Securities and Exchange Commission (SEC) that mentioned a shelf-registration statement -- known as an S-3 by the SEC -- meaning that there's a strong possibility the company intends to sell additional stock to raise money.
Source Fool.com