Edge on Aegerion

Investors have pared Aegerion Pharmaceuticals Inc. (NASDAQ:AEGR) since the company took advantage of recent share price gains to raise $50 million ahead of its year-end PDUFA date. While shareholders focused on the dilution, the company now has about two and a half years of runway.

On June 14, Aegerion sold 3.4 million shares at $14.75. The price was an 11% discount to the company's $16.53 close on June 13. Its shares were trading at less than $12 in mid-April...