The company intends to grant underwriters a 30-day window to purchase an additional 15% of the shares issued in the offering. This move puts further downward pressure on the stock, which ended the regular trading session at $11.20 before slipping to $9.25 in late activity. The offering marks a significant capital raise for the firm, though the market response highlights ongoing sensitivity regarding equity dilution in the biotech sector.
Regenxbio Shares Tumble on $100 Million Stock Offering
A 17% drop in after-hours trading greeted Regenxbio on Thursday following the biotechnology firm’s announcement of a $100 million public stock offering. The slide arrived on the heels of an 8.7% decline during the regular session, deepening the company’s year-to-date losses to 22% as investors reacted to the impending share dilution.
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