Why Fulcrum Therapeutics Shares Are Falling

Fulcrum Therapeutics Inc FULC shares are trading lower by 6.43% to $13.09 Wednesday morning after the company announced pricing of an upsized public offering of common stock.

The underwritten public offering is for 9,615,384 shares of common stock at a public offering price of $13.00 per share.

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Fulcrum says the gross proceeds to the company from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be $125 million.

The offering is expected to close on or about January 20, subject to customary closing conditions.

According to data from Benzinga Pro, FULC has a 52-week high of $24.79 and a 52-week low of $3.21.