** Drug developer Fractyl Health's GUTS.O shares plunge 27.8% to $1.35 premarket
** GUTS late Tuesday announced proposed public offering of shares and pre-funded warrants; size not disclosed
** Proceeds will be used to support its Revita and Rejuva pipeline programs and for other purposes
** GUTS has 48.9 million outstanding shares as of March 31, per offering prospectus
** Ladenburg Thalmann is the sole book-running manager for the offering
** All three brokerages covering the stock rate "buy" or higher; median PT $10 - data compiled by LSEG
** As of last close, GUTS stock down 9.2% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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