Clinical stage biopharmaceutical firm Bellus Health (NASDAQ: BLU) emerged as one of the notable gainers on Thursday. Although the company’s stock managed to surge by as high as 12% yesterday, investors need to note that there was no specific news about the Bellus that could have triggered the rally.
That being said, it might be useful for investors to take a look at a key development regarding the company from December last year. Back on December 23, 2020, the company announced that it established an at-the-market facility through an agreement with the firm Jeffries. By way of the said agreement, Bellus will be able to sell some of its common stock through market distributions to the tune of no more than $50 million.
In addition to that, it is necessary to note that the distributions are also going to include share sales that are made directly to NASDAQ. Considering the gains made by the stock yesterday, it is likely to be on the radars of many investors today.