Karuna to raise $400M in market a day after positive readout of schizophrenia drug
Karuna Therapeutics plans to raise $400 million in a stock sale, a day after releasing more positive data for one of its schizophrenia drugs, and after pulling in $862.5 million in a public offering last August.
The company announced the offering yesterday, plus a 30-day option to purchase an additional $60.0 million of its common stock for the underwriters. The biotech did not reveal how many new shares it would offer.
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