08:09 AM EDT, 10/16/2025 (MT Newswires) -- C4 Therapeutics ( CCCC ) said Thursday it priced an underwritten offering of about 21.9 million common shares at $2.47 per share and pre-funded warrants to purchase up to 28.7 million common shares at $2.4699 per warrant.

Each common share and pre-funded warrant are being sold together with class A and class B warrants, each exercisable to purchase one share at $2.22 per share, the company said.

The biopharmaceutical company said it expects to raise $125 million in upfront gross proceeds from the offering, which it plans to primarily use to fund trials of cemsidomide for the treatment of relapsed/refractory multiple myeloma. C4 Therapeutics ( CCCC ) said a portion of the proceeds may be used for additional research and development, working capital and general corporate purposes.

If all class A and class B warrants and pre-funded warrants are exercised, total gross proceeds from the offering are expected to be $349.7 million, C4 Therapeutics ( CCCC ) said.

The offering, which was led by RA Capital Management with participation from OrbiMed, Soleus Capital, Lynx1 Capital Management, and Bain Capital Life Sciences, is expected to close around Friday, C4 Therapeutics ( CCCC ) said.

Shares were down 4.5% in recent premarket activity.