Edgewise Therapeutics Prices 9.9 Mln Offering At $20.13/shr; Stock Fell In Pre-market

(RTTNews) - 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.