Prometheus Biosciences announced that it intends to offer and sell, subject to market and other conditions, $250M of shares of its common stock in an underwritten public offering. Prometheus intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and short-term investments to fund the development of PRA023, PRA052 and its other research and development programs, and for working capital and general corporate purposes. Goldman Sachs & Co., SVB Securities, Jefferies, and Guggenheim Securities are acting as joint bookrunning managers for the offering.
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