By Denny Jacob
Edgewise Therapeutics shares tumbled 29% in premarket trading on Wednesday after pricing its underwritten public offering of 9.9 million shares of its common stock.
Shares were trading around $17.98. The stock is up 8.8% over the last year.
The muscle disease biopharmaceutical company's offering price for its public offer is $20.13 a share, which it expects will bring in gross proceeds of $200 million before expenses.
The offer is expected to occur on Thursday. Edgewise intends to use the net proceeds from the offering to support the potential U.S. launch of sevasemten in patients with Becker muscular dystrophy, if approved, among other efforts.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 02, 2025 08:07 ET (12:07 GMT)
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