10:46 AM EST, 11/25/2024 (MT Newswires) -- Replimune Group ( REPL ) was trading lower Monday, recently sinking more than 5% after the biotechnology company said it plans a $125 million public offering of common stock and pre-funded warrants.

The company plans to grant underwriters a 30-day option to buy up to $18.75 million of additional securities to cover potential overallotments.

Replimune ( REPL ) expects to use net proceeds, together with cash on hand, to fund continued development of its RPx platform as a potential treatment for skin cancer as well as other general corporate purposes, according to the preliminary prospectus filed with US regulators on Monday.

Price: 14.04, Change: -0.89, Percent Change: -5.96