RXDX - Prometheus Biosciences prices $500M stock offering

• Prometheus Biosciences ( NASDAQ: RXDX ) has priced an underwritten offering of 4,545,455 shares of its common stock at a price to the public of $110/share, for an expected gross proceeds of $500M.
• All of the shares to be sold in the offering are to be sold by Prometheus.
• Offering is expected to close on or about December 13, 2022.
• Underwriters are granted a 30-day option to purchase up to an additional 681,818 shares of common stock.
• Net proceeds from this offering, together with its existing cash, cash equivalents and short-term investments to fund the development of PRA023, PRA052 and its other research and development programs, and for working capital and general corporate purposes.

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