Taysha Gene Therapies drops on $200 mln stock sale

Jefferies Financial

Today 11:44

** Taysha Gene Therapies' TSHA.O shares down 8.5% to $6.35 before the bell on Thurs after $200 mln overnight follow-on priced
** TSHA late Weds announced 32.5 mln shares and pre-funded warrants to purchase 833,333 shares at $6, a 13.5% discount to their last sale
** Co intends to use net offering proceeds to fund regulatory and manufacturing development and anticipated commercial launch, if approved, of TSHA-102 in Rett syndrome and development of other pipeline candidates, among other purposes, per the prospectus
** Jefferies, Goldman Sachs, Piper Sandler and Cantor Fitzgerald joint bookrunners
** Dallas, Texas-based TSHA has ~287.4 mln shares outstanding
** Early Mon, co said it completed dosing of 17 patients in early-stage trial evaluating TSHA-102 for treatment of Rett syndrome, a rare neurodevelopmental disorder
** TSHA shares had risen past five sessions. At Weds close, stock up about 52% over the past three months and up 26% YTD
** All 13 analysts are bullish on the stock and their median PT is $12, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))