Sophiris sinks after pricing discounted follow-on

Sophiris Bio Inc. (NASDAQ:SPHS) raised $26 million through the sale of 6.5 million units at $4 in a follow-on underwritten by Piper Jaffray and Maxim. Each unit includes a share plus a warrant to acquire 0.75 shares. The company proposed the offering after market close on Monday, when its share price was $5.82. Sophiris sank $1.93 (33%) to $3.89 on Tuesday. ...