Ultragenyx Shares Fall on $300 Million Public Offering

Ultragenyx Shares Fall on $300 Million Public Offering

Shares of Ultragenyx fell after the company launched an underwritten offering of up to $300 million in shares.

The stock was down 12% at $32.35 in early trading. Shares have fallen 30% year-to-date.

The biopharmaceutical company said it has commenced the offering and is expected to grant underwriters an option to buy up to $45 million in additional shares.

Ultragenyx said the offering is subject to market conditions and that there can be no assurance as to whether or when the offering will be completed.

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