Why Antares Shares Plunged Today
Antares Pharma (Nasdaq: ATRS) shares fell about 8% today after the company disclosed an equity offering of 12.5 million shares. Dilution is a way of life for many small pharmaceutical companies, and with today's announced capital raise, Antares will receive about $47 million in net cash, more than doubling its cash balance from the end of last quarter. While shareholders will be left holding a smaller piece of the pie, the company is approaching an important milestone in the first quarter of 2013, and today's move seemed like reasonable timing given the 80% run that shares have seen year to date. Follow along in the following video as Fool.com health care bureau chief Brenton Flynn discusses the Antares news in more detail.
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