Diamonds and Dogs
Amicus Therapeutics Inc. (FOLD)
Amicus Therapeutics is trading higher today, up 8.58% to $14.43. The rare and orphan disease biopharmaceutical company saw its shares rally after announcing a secondary offering. Amicus priced its secondary offering of 16,981,132 shares at $13.25 per share sending its primary shares flying today. The company expects to see gross proceeds of $225 million from the offering with underwriters being granted a 30 day option to buy an additional 2,547,170 million shares. Shares of Amicus rallied over $1.15 to a new 52-week high of $14.49.
Axovant Sciences Ltd. (AXON)
After rallying over 99% on its IPO, Axovant Sciences is giving some back today, down 19.69% to $24.01. The biopharmaceutical company watched its shares sell off after Jim Cramer made remarks regarding the move of Axovant on its IPO. Cramer's biggest point of contention with the company was the fact that Axovant only has one drug in its pipeline, RVT-101. Although RVT-101 has shown promise in its Phase II trials, if it were unsuccessful the company would struggle immensely. Shares of Axovant fell over $5.80 today but are still above their 52-week low.