Edgewise Therapeutics, Inc.(EWTX), a muscle disease biopharmaceutical company, on Wednesday announced the pricing of an underwritten offering of 9,935,419 shares at $20.13 per share. The offering is expected to close on April 3.
Shares of Edgewise are decreasing in the pre-market trading.
The company plans to use the net proceeds for the potential commercial launch of Sevasemten, once approved.
Sevasemten is a Phase 3 trial for Duchenne muscular dystrophy, advance Phase 3 trials of EDG-7500 for hypertrophic cardiomyopathy.
In the pre-market trading, Edgewise is 18.83% higher at $16.34 on the Nasdaq.
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