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ZLAB Stock Is On An Upswing Today. Why?

DBGI Stock

DBGI Stock

Today’s premarket session has seen shares of Zai Lab Limited (NASDAQ:ZLAB) up 6.12% at $160.00. Last trading session, Zai Lab plunged -8.15% to finish at $150.77. ZLAB stock has lost -6.52% over the past five days; nonetheless, it gained 13.81% in the last month. A spike in ZLAB stock followed the announcement of the pricing of American Depositary Shares and ordinary shares.

What ZLAB says?

Research-based, commercial-stage biopharmaceutical company Zai Lab develops treatments for unmet medical needs in oncology, autoimmune conditions, infectious diseases, and more. ZLAB has therefore reached partnerships with a multitude of biopharmaceutical competition to bring forth a wide range of commercially available products and product candidates.

In a press release yesterday, Zai Lab announced the pricing of its 4,776,000 underwritten public offering of American depositary shares (ADSs).

What else?

In addition, Zai Lab (ZLAB) gave the underwriters the option to purchase 716,400 additional shares at the public offering price, less underwriting discounts and commissions, which would be settled in ADS.

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