Vir Biotechnology Shares Drop After Discounted Public Offering Is Priced
Vir Biotechnology Inc. priced an underwritten public offering at $8.50 per share, a 15% markdown from the prior session's close, prompting a roughly 16% decline in the company's stock. The clinical-stage biopharmaceutical company is selling 17,647,058 shares for estimated gross proceeds of $150 million, with underwriters holding a 30-day option to …