Why did Oncoinvent stock fall on 7 October?
Written after the close on
Oncoinvent −4.80%
Oncoinvent fell sharply as share overhang weighed. Oncoinvent weakened over the last five trading days, dropping more than a clearly lower Oslo Børs benchmark, with the heaviest pressure in the latest session. The likely driver is the recent private placement — a sale of new shares to selected investors — at NOK 90 per share, which added 1,650,000 new shares and left a supply overhang as the newly issued stock and returned lent shares became tradable. The return of shares that had been temporarily lent to the managers for settlement, and the registration of the new share capital, are administrative steps that likely reinforced the sense of extra supply rather than any change in the underlying business. On the positive side, three research abstracts from the Radspherin programme — a radiopharmaceutical therapy that delivers alpha radiation inside the abdominal cavity — were accepted for two medical congresses later in October, though this did not offset the placement-related selling.