Why BELLUS Health Shares Are Falling Afterhours

BELLUS Health Inc BLU BLU has filed a preliminary prospectus supplement to its amended and restated short form base shelf prospectus dated December 14, 2021, amending and restating the short form base shelf prospectus dated December 23, 2020, in connection with a proposed public offering of its common shares.
The company intends to use the net proceeds of the Offering primarily to fund BLU-5937 research and development activities, working capital needs, and other general corporate purposes.
Also Read: BELLUS Health Announces FDA End-of-Phase 2 Meeting For Refractory Chronic Cough Program
BLU expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of common shares offered in the Offering.
Price Action: BLU shares are trading lower by 6.24% at $9.46 during the post-market session on Wednesday.

BELLUS Health Shares Slide On Public Offering Of Shares In Canada And US