QTTB shares soared 90.7% to close at $21.38 on Monday after the company said its hair-loss drug, bempikibart, showed hair regrowth in a mid-stage study.
The company intends to use net offering proceeds for working capital, R&D-related expenses, clinical development and commercialization efforts, including supporting advancement of bempikibart into future clinical trials.
At the close, QTTB shares had surged more than sixfold year to date.
Q32 Bio shares fall after equity offering announcement
Shares of Q32 Bio QTTB.O fell 4.1% in post-market trading to $20.51 as the company looked to raise equity.
QTTB commenced a $200 million offering comprising stock and pre-funded warrants.
Morgan Stanley, Jefferies and Cantor Fitzgerald are joint bookrunners.
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