BridgeBio Pharma Commences Public Offering Of $250 Mln Of Shares; Stock Down

(RTTNews) - BridgeBio Pharma Inc. (BBIO), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, said that it has commenced an underwritten public offering of $250 million of shares of its common stock.

BridgeBio also intends to grant the underwriters a 30-day option to purchase up to an additional $37.5 million of shares of its common stock. All of the shares in the proposed offering are to be sold by BridgeBio.

J.P. Morgan, Cantor Fitzgerald & Co. and Mizuho are acting as joint book-running managers for the proposed offering. Raymond James is acting as lead manager.

BBIO closed Monday's regular trading at $32.35 down $3.28 or 9.19%. In the after-hours trading, the stock further dropped $1.09 or 3.38%.