04:38 PM EDT, 09/10/2024 (MT Newswires) -- Xencor ( XNCR ) said late Tuesday it has started an underwritten public offering of its shares to raise funds for general corporate purposes.

The clinical-stage drugmaker said its underwriters, including Leerink Partners and Raymond James, will receive 30-day options to buy additional shares equal to 15% of the shares sold during the offering. Xencor ( XNCR ) may also issue pre-funded warrants to some investors instead of shares if they prefer.

The stock was down about 2% in extended trading.

Price: 18.75, Change: -0.38, Percent Change: -1.99