There might not have been any news about the orphan lung disease firm Savara Inc, but it did not deter its stock from recording significant gains.
On Tuesday, the Savara Inc (NASDAQ: SVRA) stock soared by as high as 21.50% as investors flocked to the stock in a big way. Moreover, the stock is up another 15% in the pre-market session now. Although there was no news about the company yesterday, it should be noted that there was a major development back on March 15. It might be a good idea for investors to take a close look at it.
The company announced on March 15 that it had closed the public offering of its stock that raised as much as $130 million. It was a significant development for the company and one that has surely been noted by investors as well as market watchers. The public offering was made up of 57,479,978 shares of the Savara common stock. The shares in question were offered for $1.45 a share.