Miss ISIS's $19 Secondary But Think It's A Deal At $18?

Looking back to 148 days ago, Isis Pharmaceuticals, Inc. (NASD: ISIS) priced a 9,000,000 share secondary stock offering at $19.00 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Thursday, the stock is now 87.7% higher than the offering price.