Dyne Therapeutics down on pricing of public offering

Dyne Therapeutics

22/05/2024 10:52

** Shares of drug developer Dyne Therapeutics  DYN.O  fall
4.6% to $31.13 in premarket trading on plans to raise more
equity capital
    ** Co on Tuesday revealed pricing of $325.5 mln public
offering of common stock
    ** Co plans to offer 10.5 mln shares of common stock at a
price of $31.00 per share; 5% discount to stock's last closing
price
    ** DYN on Monday shared positive data on its experimental
muscle disease drug, DYNE-101, pushing its shares up more than
27%
    ** All ten brokerages rate the stock "buy" or higher; their
median PT is $45
    ** As of last close, stock had risen 145.34% compared with a
12.14% increase in the Nasdaq index  .IXIC 

 (Reporting by Nikhil Sharma in Reuters)
 ((nikhil.sharma@thomsonreuters.com))