Why Edgewise Therapeutics (EWTX) Stock Is Falling

Edgewise Therapeutics Inc EWTX shares are trading lower by 23.3% to $15.31 during Wednesday’s session after the company announced an approximate $200 million offering.

What To Know: Edgewise Therapeutics has priced an underwritten public offering of 9.94 million shares at $20.13 per share, expecting to raise approximately $200 million. The offering is set to close on April 3, pending customary conditions.

Institutional investors, including Braidwell LP, Cormorant Asset Management and RA Capital Management, participated in the deal. Leerink Partners, Piper Sandler and others acted as book-running managers.

Proceeds will fund the potential U.S. commercial launch of sevasemten for Becker muscular dystrophy, Phase 3 trials in Duchenne muscular dystrophy and hypertrophic cardiomyopathy and other R&D initiatives. Funds will also support general corporate purposes.

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How To Buy EWTX Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Edgewise Therapeutics’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, EWTX has a 52-week high of $38.12 and a 52-week low of $12.18.