By Ben Glickman
Shares of Ideaya Biosciences fell after the company announced a $125 million public offering.
The stock was down 8.6% to $24.90 in after-hours trading, following a 2.1% rise at Tuesday’s close. Shares are up 50% this year.
The South San Francisco, Calif.-based oncology-focused biotechnology company said it would sell up to $125 million of common shares and pre-funded warrants to purchase common stock.
J.P. Morgan, Goldman Sachs, Jefferies and RBC Capital Markets are underwriters of the offering.
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