Why Apellis Pharmaceuticals Stock Is Falling After Hours

Apellis Pharmaceuticals Inc APLS shares are trading lower in Wednesday's after-hours session after the company announced a proposed public offering of $300 million of its common stock.

All of the shares are being offered by Apellis. In addition, Apellis expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the public offering.

Apellis is a clinical-stage biopharmaceutical company that's committed to leveraging courageous science, creativity and compassion to deliver life-changing therapies.

APLS 52-Week Range: $27.50 - $73.00

Apellis shares are down 7.28% in after hours trading at $49 at press time.