Generation Bio slumps as co plans equity raise ahead of JP Morgan conference

Prelude Therapeutics Incorporated

05/01/2021 18:15

** Shares of Generation Bio  GBIO.O , gene therapy developer
focused on inherited liver and retinal diseases, slump 15.8% to
$25.33 as co looks to raise equity for first time since going
public in Jun
    ** Early stage biotech late Mon filed https://www.sec.gov/Archives/edgar/data/1733294/000119312521000941/d78071ds1.htm
 7.5 mln share offering
    ** GBIO also said expects to report cash/cash equivalents of
~$260 mln as of Dec 31
    ** JP Morgan, Jefferies and Cowen acting as jt bookrunners
for offering that's slated to price Weds AMC
    ** Despite Tues decline, stock up >30% since co priced 10.5
mln share IPO at $19
    ** Potential equity raise comes as GBIO is scheduled to
present next week at the annual JP Morgan healthcare conference
 urn:newsml:reuters.com:*:nGNX6JSfmw
    ** JP Morgan conference widely regarded as the sector's most
important investing event of the year
    ** Meanwhile, shares of Prelude Therapeutics  PRLD.O  down
11.9% at $59.45 after cancer biotech launches its own 1.75 mln
share offering, which is also slated to price Weds after the
bell  urn:newsml:reuters.com:*:nGNX3zylQH
    ** PRLD's stock has more than tripled since its Sept IPO,
which also priced at $19

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))