RTTNews | Jan 27, 2022 11:59AM EST

11:59 Thursday, January 27, 2022 (RTTNews.com) - Canadian biotech company, Zymeworks Inc. (ZYME), saw its stock drop another 4% on t5he Thursday market as the company announced the offering of $100 million worth of stock.

The biotech company has lost 81% of its value in the last 2 months and the recent public offering is being considered as an attempt to raise funds. The company issued the combination of stock and warrants that amount to 12.5-million shares at a highly dilutive rate of $8 per share, lower than its price at the close on Wednesday.

The stock is currently trading at $8.95, down $0.36 or 3.92% since the previous close at $9.32. The stock opened at $8.15 in the morning and in the 52-week period, the stock has ranged between $8.11 and $43.30 per share.

Read the original article on RTTNews ( https://www.rttnews.com/3258006/zymestock-falls-4-on-public-offering-news.aspx)

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