MDxHealth SA, an Irvine-based maker of noninvasive prostate tests, said it intends to raise $40 million by offering ordinary shares.
Shares fell 19% in after-hours trading to $2.07 each. They had risen almost 1% to $2.54 and a $69 million market cap in regular trading today.
The company reported cash and cash equivalents of $21.3 million as of June 30.
TD Cowen and William Blair are joint book-running managers for the offering.