Sophiris Bio (SPHS) shares have plunged after the company announced the pricing of its public offering of 6.5M shares of common stock and warrants to purchase 4.875M shares of common at a combined price of $4. Underwriters to the offering have been granted an option to acquire an additional 975,000 shares to cover for over-allotment, if any. Gross proceeds from the offering are expected to be $26M.