Why EyePoint Pharmaceuticals Shot 31% Higher Today

Shares of specialty healthcare company EyePoint Pharmaceuticals (NASDAQ: EYPT) zoomed into the stratosphere on Wednesday. Investors were obviously very pleased with the company's pricing of an upcoming share-and-warrant issue, expressing their delight by pushing the stock up a whopping 31% on the day.

In sharp contrast to certain previous rounds of capital raising, EyePoint managed to set the new issue at a level only slightly lower than its closing stock price. The stock is priced at $13.75 per share, only 2% below the $14.05 EyePoint closed at on Tuesday.

Image source: Getty Images.

Continue reading

Source Fool.com