Alvotech Stock Drops 7.42%: What's Behind the Placement?

Alvotech's stock price dropped 7.42% during intraday trading. The decline may be attributed to the company's announcement of a private placement of approximately 7.5 million Swedish Depository shares, which could dilute existing shareholders' stakes. Additionally, the company's recent acquisition of Xbrane Biopharma's R&D organization and biosimilar candidate to Cimzia® (certolizumab pegol) for approximately SEK 275 million (US$28.9 million) may have raised concerns about the integration process and potential financial strain.