Sana Biotechnology shares fall 24.71% premarket after announcing a public offering of $75.0 million of shares.

Sana Biotechnology, Inc. declined 24.71% in premarket trading. The company announced the pricing of a public offering at $3.35 per share, which may have led to the stock's decline as investors reacted to the dilution of existing shares. Additionally, the company intends to grant underwriters a 30-day option to purchase up to an additional $11.25 million of shares, further contributing to the negative sentiment.