biondvax pharmaceuticals ltd shares were down 57 to a new 52week low of 374 after the company said that an underwritten public offering of 16 million units and prefunded units priced with proceeds of about 8 million the stock closed thursdays session down 19 and is down 84 year to date the israelbased immunotherapeutics company said that each unit consists of one american depositary share and two warrants each to buy one ads and each prefunded unit consists of one prefunded warrant to buy one ads and two warrants each to purchase one ads each ads or prefunded warrant is being sold together with two warrants at a combined purchase price of 5 per unit and each ads represents 400 ordinary shares the company said the company expects to close the offering dec 20 and to use its proceeds together with its existing cash and cash equivalents to develop its nanoabs antibody therapy program and to fund general corporate purposes which may include working capital research and development activities regulatory matters capital investment or other related purposes