Gene therapy firm Orchard Therapeutics sags ahead of stock offering

Orchard Therapeutics

04/06/2019 17:09

** Orchard Therapeutics  ORTX.O  shares drop 20% in early
Tues trade as co launches first-time follow-on. Stock recently
down 17.2% to $15.80
    ** UK-headquartered biotech selling 9 mln ADSs to fund
ongoing development of product candidates and ongoing
commercialization of Strimvelis, among other uses  urn:newsml:reuters.com:*:nGNX7hkKwr
    ** Strimvelis is an EU-approved gene therapy for Severe
Combined Immune Deficiency (SCID), commonly known as 'bubble boy
disease', a genetic defect that leaves children, typically boys,
without an immune system
    ** JP Morgan, Goldmans, Cowen and Barclays acting as joint
bookrunners for offering, which is slated to price Weds AMC
    ** Deal size represents ~10% of ORTX outstanding shares and
nearly 80 days of trading volume based on 90-DMA of ~115,000
    ** Co raised $200 mln in its Oct IPO priced at $14
 urn:newsml:reuters.com:*:nGNX7RWFyK
    ** ORTX fell to low of $8.65 in Dec amid market swoon and
rallied to as high as $21.64 by mid-Apr

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