Why Translate Bio Crashed 21% Today

After the company announced the pricing of a planned $125 million secondary stock offering, shares of Translate Bio (NASDAQ: TBIO) tumbled 21% on Friday.

In collaboration with biopharma giant Sanofi (NASDAQ: SNY), Translate Bio has been investigating mRNA vaccine candidates for COVID-19 since March. On Tuesday, the companies announced they're expanding their relationship, with Translate Bio receiving upfront money, potential milestone payments, and royalties on future net sales in exchange for exclusive commercial rights to multiple vaccine candidates.

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Source Fool.com