AlloVir, Inc. (NASDAQ:ALVR) gained 11% in pre-open trading Thursday after Gilead Sciences, Inc. (NASDAQ:GILD) disclosed it bought another 2,930,870 common shares in the company's recent public offering at $3.75 per share.
The value of the purchase was nearly $11 million. Gilead owns a total of 16,635,286 common shares following the purchase, representing a nearly 15% stake.
On June 21, AlloVir announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock at a public offering price of $3.75 per share. All shares were sold by the company.