Shares of biotechnology company Revance Therapeutics Inc. were lower after-hours Monday, following the company’s announcement of a proposed underwritten public offering of $150 million of common stock.
The company said proceeds from the offering would be used to fund the commercialization of its products, as well as for research and development, and other purposes.
At 5:41 p.m. ET, the company’s shares were trading 7.44% lower at $26 per share. Volume at the time topped 134,000 shares. The stock finished the day’s regular session with a 1.33% loss, closing at $28.09 per share.
Revance said it is focused on developing and commercializing aesthetic and therapeutic offerings.