SPY425.10+2.50 0.59%
DIA341.98+3.20 0.94%
IXIC14,369.71+97.98 0.69%

Praxis Precision Medicines Starts 4 Million Shares Offering -- Stock Dives 7% After-Hours

05/11/2021 12:46

04:38 PM EDT, 05/11/2021 (MT Newswires) -- Praxis Precision Medicines (PRAX) said Tuesday it has started an underwritten public offering of 4 million shares to raise funds for developing its drug candidates.

BofA Securities, Cowen, Piper Sandler, and Wedbush PacGrow are the underwriters. It also set aside up to an additional 15% of the shares sold in the public offering for over-allotments.

Price: 24.00, Change: -1.85, Percent Change: -7.16