Fibrocell Science shares fell in market value after the company had announced it would be selling 11 million shares of its stock. The price of the shares to be sold would be at USD4.10. With company shares closing at USD4.99 last Wednesday, the company's offered shares for sale would have a 17.8% discount.
The market's response was a further decline in share prices for the company, with a drop of USD0.83 or a 16.6% decline to USD4.16 per share.
The products of Fibrocell is based on fibroblasts, a type of cell involved in the production of collagen and growth factors which support skin and soft tissue. The company's product called the Laviv treatment. This treatment is designed to hinder the appearance of smile lines. The company said ot is also developing treatments for restrictive burn scars, vocal cord scars and other skin conditions and effects.
The Exton. Pa baed company mentioned that the offer should be closed by Tuesday. The offer's underwriters would have an additional option to purchase from another source. Currently, Fibrocell Science Inc has 27.5 million shares in total and all are available by August 9.
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