With a 200 million offering this is why most swing traders sell the news on biotechs. As soon as the stock goes up and they get a nice result they will have to raise money hence price goes down after a 50% gain. the few exceptions have been Axsm and Itci and RETA but even in the early stages we had sell-offs after money raises. I'm not sure of the projected price but I believe around $10.50 a share which would be a nice entry point. The telltale sign this morning was when the options after a nice rally still dropped 66% at the $17.50 strike point for April.$89Bio, Inc.(ETNB)$
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