RUBY - Rubius Therapeutics secures $150M capital raise

Rubius Therapeutics (RUBY) announces that it has commenced an underwritten public offering of $150M of shares.Rubius also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares.Intends to use the net proceeds, together with its existing cash, cash equivalents and investments, to advance development of its ongoing and future clinical programs, to further develop its technology platform and to continue to advance its preclinical pipeline.Any remaining proceeds will be used for other ongoing research and development activities and general corporate purposes, such as working capital, operating expenses and capital expenditures, including those related to its in-house manufacturing facility.Shares of the company were down nearly 1% during after-market trading.Rubius shares had closed up 84.4% to $30.29 on Monday after the company released phase 1/2 data on RTX-240, its candidate for solid tumors, that it said validates its clinical platform.

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Rubius Therapeutics secures $150M capital raise