Forte Biosciences, Inc. (FBRX) shares climbed 34.75 percent, gaining $9.13 to $35.40 on Thursday, after the company priced a public offering of 5.71 million shares at $26.27 per share to raise about $150 million.
The stock is currently trading at $35.40 compared with its previous close of $26.27, after opening at $29.14 on the Nasdaq. Shares traded between $28.50 and $35.59 during the session, with volume reaching 1.33 million shares, well above the average daily volume of 228,543.
The company said proceeds from the offering will support working capital, clinical development of its lead product candidate, and additional research activities. Forte Biosciences' 52-week range is $4.90 to $35.62.
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