Rapport Therapeutics Shares Drop 24% After Pricing About $355 Million in Offerings

Rapport Therapeutics shares fell 24% in premarket trading Wednesday after the clinical-stage biotech priced three securities offerings worth about $355 million.

One common-stock transaction was valued at about $175 million. A separate private placement of common stock was priced at $30 million.

The third component is $150 million in convertible senior notes, with a due date in 2032. The two stock transactions total about $205 million; together with the notes, the listed components add up to about $355 million.