The stock surged after Palvella priced its upsized public offering of 1.6 million shares at $125 per share late on February 25, exceeding initial $150M expectations and signaling robust investor demand amid recent Phase 3 SELVA trial success for QTORIN rapamycin gel. This capital raise, expected to close February 27, strengthens the balance sheet for advancing late-stage programs toward a planned H2 2026 FDA NDA submission. Analyst upgrades, including Mizuho raising its target to $250 and Cantor to $200, amplified momentum, with shares gapping up early and hitting multi-year highs on elevated volume.
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