04:55 PM EDT, 09/09/2024 (MT Newswires) -- Ionis Pharmaceuticals ( IONS ) said late Monday it plans a $500 million public offering of common shares.

The company intends to grant a 30-day overallotment option to the underwriters to acquire up to $75 million of additional shares.

Ionis said it plans to use the net proceeds to fund its independent commercial launches and late-stage clinical programs, among other things.

The company's shares were down 6.4% in after-hours activity.

Price: 45.25, Change: -3.08, Percent Change: -6.37