Shares of biopharmaceutical company X4 Pharmaceuticals (NASDAQ:XFOR) are tanking in the pre-market session today after the company announced an underwritten public offering of its common shares and associated warrants.
Additionally, X4 has also granted underwriters a 30-day option to acquire additional shares at the offer price. All the securities on offer and being sold by the company itself.
XFOR shares have now tanked over 50% so far this year.
The Street though, has a Strong Buy consensus rating on XFOR alongside an average price target of $6.13 indicating a massive 410% potential upside in the stock.
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