Exagen Stock Plunges 16.69% on Public Offering News

On May 8, 2025, Exagen's stock experienced a significant drop of 16.69% in pre-market trading, reflecting investor concerns and market sentiment.

Exagen Inc. has announced a proposed public offering of its common stock, aiming to raise additional capital. The company intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares, indicating a strategic move to bolster its financial position.

This offering is part of Exagen's broader efforts to secure funding for its ongoing operations and potential expansion. The company has not specified the exact amount it aims to raise, but the move is seen as a proactive step to ensure liquidity and support future growth initiatives.