BUZZ-Q32 Bio eases after starting $200 mln equity offering

Morgan Stanley
Q32 Bio Inc

Morgan Stanley

MS

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Q32 Bio Inc

QTTB

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** Shares of Q32 Bio QTTB.O down 4.1% post-market to $20.51 as co looks to raise equity

** QTTB commences $200 mln offering comprising stock and pre-funded warrants

** Morgan Stanley, Jefferies and Cantor Fitzgerald joint bookrunners

** QTTB shares soared 90.7% to close at $21.38 on Mon after co said its hair-loss drug, bempikibart, showed hair regrowth in mid-stage study

** Co intends to use net offering proceeds for working capital, R&D-related expenses, clinical development and commercialization efforts including for supporting advancement of bempikibart into future clinical trials

** At close, QTTB shares have surged more than sixfold YTD