Stock Alert: BioLife Solutions Up 16%

(RTTNews) - Shares of BioLife Solutions Inc. (BLFS) are rising more than 16 percent or $2.63 in Thursday's morning trade at $16.67. Bothell, Washington-based BioLife Solutions is a developer of bioproduction tools for cell and gene therapies.

Thursday, the company said it has priced its public offering of 5.175 million shares of its common stock at $14.50 per share, before underwriting discounts and commissions. BioLife expects gross proceeds from the offering to be about $75 million, to be used for working capital and general corporate purposes.

The offering is expected to close on July 7, 2020.

The stock has traded in a range of $7.37 to $21.18 in the past 52 weeks.