Autolus Therapeutics tumbles after launching share offering

Autolus Therapeutics

08/12/2022 21:53

** U.S.-listed shares of Autolus Therapeutics PLC  AUTL.O 
down ~20% post-market as co looks to raise equity
    ** British drug developer commences offering of American
Depositary Shares (ADSs)  urn:newsml:reuters.com:*:nGNX36BCSM
    ** Joint bookrunners Jefferies, William Blair and Wells
Fargo marketing deal size of ~$150 mln, according to sources
    ** AUTL also says Blackstone  BX.N  unit, Blackstone Life
Sciences, to make $70 mln in milestone payments  urn:newsml:reuters.com:*:nGNX9JxBsQ
    ** The first $35 mln payment being paid earlier than
anticipated after its gene therapy, obe-cel, met primary
endpoint in Phase II trial for treatment of Acute Lymphoblastic
Leukemia, co says
    ** In Oct, AUTL entered deal granting Bristol Myers  BMY.N 
access to its 'safety switch' tech, and said Moderna  MRNA.O 
exercised its option to license AUTL's targeting tech for
messenger RNA (mRNA) therapeutics
    ** AUTL shares on Thurs closed down 0.3% at $2.99 for
roughly $270 mln market cap
    ** Shares down 42% YTD, but have rallied ~40% since end-Sept
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))