aeglea biotherapeutics inc shares were down 16 to 326 in premarket trading after the company proposed an underwritten public offering in which it intends to offer and sell common shares and prefunded warrants to purchase shares the company said it expects to grant the underwriters a 30day option to purchase additional shares all of the securities are being offered by aeglea the offering is subject to market and other conditions and the company said there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering aeglea intends to use the proceeds from the offering together with its existing cash resources to fund its ongoing biologics license application submission activities for pegzilarginase and its potential commercialization in the us complete its ongoing phase 12 clinical trial of agle177 and prepare for a potential pivotal study in homocystinuria advance agle325 for cystinuria through indenabling studies and the remainder to fund continued research and development manufacturing working capital and general corporate purposes