Why Impel NeuroPharma Dived by 24% Today

One of this week's top roller-coaster stocks, biotech Impel NeuroPharma (NASDAQ: IMPL), experienced another queasy price lurch on Friday. The company's shares fell by almost 24% on the pricing of an upcoming share issue.

After market hours on Thursday, Impel NeuroPharma set the price for its previously announced 3 million-share issue of common stock at $15 per share. The company is also granting the issue's underwriters a 30-day option to buy up to an additional 450,000 shares at that price. The issue should close next Tuesday, Sept. 14, the company said.

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Source Fool.com