BLU - BELLUS Health announces launch of public offering of shares in Canada U.S.
- BELLUS Health ( NASDAQ: BLU ) on Wednesday announced the launch of a public offering of shares in Canada and the U.S.
- The Canadian biotech said it intends to use the net proceeds of the offering to primarily fund the R&D activities of its cough candidate BLU-5937.
- BELLUS ( BLU ) also said it expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of common shares offered in the offering.
- Jefferies, Evercore ISI and RBC Capital Markets are acting as joint book-running managers to the offering.
- BLU stock fell 3.5% to $9.79 in aftermarket trading.
- BLU on Tuesday detailed its late-stage plans for BLU-5937 after an end-of-phase 2 meeting with the U.S. FDA. RBC Capital Markets in response reiterated its outperform rating on the stock and upped the price target by $5 .
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BELLUS Health announces launch of public offering of shares in Canada, U.S.