What happened After sharing the pricing information of a just-announced common stock offering, Agile Therapeutics (NASDAQ: AGRX), a clinical-stage biopharma focused on women's health, saw its stock fall 14% as of 3:22 p.m. EST on Friday. So what Agile announced on Thursday that it wanted to raise capital from a common stock offering. The company released the pricing details of the proposed offering today. Agile stated that it is selling 15 million shares of stock at $3 per share. The underwriters of the deal are also being granted a 30-day option to purchase up to 2.25 million additional shares. The problem is that Agile's closing price on Thursday was $3.58, which suggests that the company had to substantially discount the stock in order to attract enough demand from investors. Image source: Getty Images. The deal is expected to raise about $45 million before subtracting fees. Given the weak pricing details, it's not hard to figure out why shares are taking a step back today. Now what Agile had previously told investors that its cash balance would only last until the end of 2020, so it's not surprising to see the company raise capital now. What's more, the company plans on initiating distribution to wholesalers for its recently approved birth-control patch Twirla in the fourth quarter, so its capital needs are likely to grow from here. 2020 should be an exciting year for Agile's investors, but there's no guarantee that the demand for Twirla will be as strong as the company needs it to be. For that reason, my plan is to approach this biotechnology stock with a wait-and-see mindset. 10 stocks we like better than Agile TherapeuticsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Agile Therapeutics wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Brian Feroldi has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source