Health care stocks were slightly lower during Wednesday trading, with the NYSE Health Care Index slipping about 0.1% while shares of health care companies in the S&P 500 also were down 0.1% as a group.
In company news, Cellectar Biosciences (CLRB) plunged Wednesday after the specialty drugmaker today priced an $8 million public offering of 5.3 million shares at $1.50 each, a 30.5% discount to Tuesday’s closing price for the stock.
After first paying underwriter discounts and other offering expenses, the company was expecting to pocket around $7.2 million in net proceeds. It plans to use the new funds for general corporate purposes, including ongoing development of its CLR 131 prospective treatment and management of multiple myeloma and other hematologic malignancies.
CLRB shares were down over 30% at $1.52 apiece, staying within 10 cents of their session low.
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