Why Is Gritstone Bio (GRTS) Stock Down 44% Today?

Gritstone Bio (NASDAQ:GRTS) stock is falling on Tuesday after the clinical-stage biotechnology company announced the pricing of an underwritten public offering for its shares.This public offering has the company selling 8,333,333 shares of GRTS stock for $1.50 each. These shares also come with warrants to purchase another 8,333,333 shares of GRTS stock. The exercise price for the warrants is $1.65 per share.In addition to this, certain investors are allowed to purchase pre-funded warrants instead of GRTS st ...