04:21 PM EDT, 05/22/2024 (MT Newswires) -- Cytokinetics ( CYTK ) unveiled late Wednesday plans to offer about $500 million of shares in a public offering.

The company expects to grant underwriters a 30-day option to purchase up to an additional 15% of the number of shares sold in the offering.

Cytokinetics ( CYTK ) will sell all of the shares in the offering, it said.

The company shares were down nearly 10% in after-hours activity.

Price: 53.40, Change: -5.83, Percent Change: -9.84