Beam Therapeutics Shares Drop After $500M Offering Prices

Dow Jones

2025/03/11

By Chris Wack

Beam Therapeutics shares were 14% lower, at $24.60, after the company priced an underwritten offering with proceeds of $500 million.

The biotechnology company said it is offering 16.2 million shares at $28.48 a share, and pre-funded warrants to buy 1.4 million shares at $28.47 per pre-funded warrant.

The stock, down 34% in the past 12 months, is on pace for its largest percent decrease since May 11, 2022, when it fell 16.27%. A close to the downside also would snap a two-day winning streak.

Each pre-funded warrant will be exercisable immediately and will be exercisable until exercised in full.

All of the securities in the offering are to be sold by Beam Therapeutics. The offering is expected to close on or about Tuesday.

Beam Therapeutics said it intends to use the proceeds from the offering for continued advancement of its platform technology, for continued research, development and pre-commercialization activities for its current portfolio of base editing programs, and for general corporate purposes.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

March 10, 2025 12:45 ET (16:45 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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A close to the downside also would snap a two-day winning streak. \n</p>\n<p>\n  Each pre-funded warrant will be exercisable immediately and will be exercisable until exercised in full. \n</p>\n<p>\n  All of the securities in the offering are to be sold by Beam Therapeutics. 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