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Bionovo proposes public offering

Pharmaceutical company Bionovo has filed a preliminary prospectus supplement to an existing shelf registration statement with the Securities and Exchange Commission relating to a proposed public offering of 11.4 million shares of its common stock.

Bionovo expects to grant its underwriters a 30-day option to purchase up to 1.71 million shares at the public offering price to cover over-allotments, if any.

BMO Capital Markets and Canaccord Adams are acting as joint book-running managers for the proposed offering, with Merriman Curhan Ford acting as a co-manager.