The company intends to use net proceeds from the offering for working capital, research-related expenses, clinical development and commercialization efforts, including advancement of bempikibart into future clinical trials.
It has about 23.7 million shares outstanding, according to the prospectus.
Deal details and stock performance
Morgan Stanley, Jefferies and Cantor Fitzgerald were joint bookrunners for the offering.
Through Tuesday, QTTB shares had surged more than fivefold year to date.
All 5 brokerages covering the stock are bullish, with a median price target of $38, according to LSEG.
Shares rise after follow-on pricing
Shares of Q32 Bio QTTB.O were up 1.6% premarket on Wednesday to $18.75 after the company priced a $200 million follow-on offering.
The Waltham, Massachusetts-based biotech late Tuesday sold about 11 million shares, including pre-funded warrants, at .
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