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Is It Time To Review Stock News? Sophiris Bio Inc. (NASDAQ:SPHS)

Is It Time To Review Stock News? Sophiris Bio Inc. (NASDAQ:SPHS)

Sophiris Bio Inc. (NASDAQ:SPHS) spotted trading -76.79% off 52-week high price. On the other end, the stock has been noted 14.08% away from the low price over the last 52-weeks. The stock changed -14.69% to recent value of $0.81. The stock transacted 702608 shares during most recent day however it has an average volume of 144.33K shares. The company has 30.31M of outstanding shares and 29.86M shares were floated in the market.  

 On Aug. 27, 2019, Sophiris Bio Inc. (NASDAQ:SPHS) a biopharmaceutical company studying topsalysin (PRX302), a first-in-class, pore-forming protein, in late-stage clinical trials for the treatment of patients with urological diseases, reported that it has entered into a definitive agreement with a single healthcare-focused institutional investor for the issuance and sale of 5,333,334 of its common shares (or pre-funded warrants to purchase common shares) for an effective price of $0.75 per share, for gross proceeds of approximately $4.0 million, in a registered direct offering. The offering is expected to close on or about August 29, 2019, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offerings.

In addition to the securities described above, in a concurrent private placement, Sophiris will issue to the investor warrants to purchase up to 5,333,334 common shares, which represent 100% of the number of common shares issued in the registered direct offering, with an exercise price $0.95 per share and a five-year exercise period commencing six (6) months of the issuance date.

Sophiris currently intends to use the net proceeds from the offering for working capital and general corporate purposes.

 Its earnings per share (EPS) expected to touch remained 21.50% for this year.

 According to the most recent quarter its current ratio was 1.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -17.66% from the mean of 20 days, -15.39% from mean of 50 days SMA and performed -26.85% from mean of 200 days price. Company’s performance for the week was -19.50%, -19.00% for month and YTD performance remained -2.41%.

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