- Revolution Medicines ( NASDAQ: RVMD ) on Tuesday has initiated plans to raise up to $200M in primary stock offering.
- The biotech company intends to grant the underwriters an overallotment option to purchase up to an additional $30M shares.
- J.P. Morgan, Cowen and Guggenheim Securities are acting as the joint book-running managers for the proposed offering. Actual terms of the offering not yet determined.
- Stock fell 12% after-hours to trade at $21.55 vs. 52-week range of $14.06 to $34.16
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Revolution Medicines to raise up to $200M in stock offering