ABCL shares surged 35% on Monday to close at $9.34 after the company said its menopause treatment, ABCL635, reduced hot flashes in a mid-stage trial.
Prior to the offering, the company had about 306.6 million shares outstanding.
The stock has tripled year to date.
All nine analysts covering ABCL are bullish, with a median price target of $14, according to LSEG data.
Share sale and planned use of proceeds
Shares of AbCellera Biologics ABCL.O were down 1.3% at $10.22 premarket on Thursday after a $200 million follow-on was priced.
The Canadian biotech announced early Thursday that it priced about 17.4 million shares and pre-funded warrants to buy up to about 3.1 million shares at $9.75.
The offering price represents a 5.9% discount to the stock's last close of $10.36.
Jefferies, J.P. Morgan, Cantor, UBS and BMO are joint bookrunners.
The company intends to use net proceeds to fund R&D, clinical advancement of its internal pipeline, including lead clinical program ABCL635, among other purposes.
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