Taysha Gene Therapies tumbles after $75 mln equity offering priced

Taysha Gene Therapies

26/06/2024 15:04

(Updates with pricing details)
    ** Taysha Gene Therapies'  TSHA.O  shares down 15.8% early
Weds at $2.08, over 3-mth low, after follow-on priced
    ** Co announces ~33.3 mln shares, including pre-funded
warrants to buy ~19 mln shares for $75 mln raise
    ** Offering price of $2.25 represents 8.9% discount to
stock's close on Tues
    ** Co plans to use net proceeds to fund clinical, regulatory
and manufacturing development of TSHA-102, its treatment for
Rett syndrome
    ** Rett syndrome is a rare neurodevelopmental disorder with
no approved disease-modifying therapies
    ** Prior to offering, Taysha had ~187 mln shares outstanding
and ~153.3 mln shares of public float, per LSEG
    ** Jefferies and Goldman leading the offering, along with
Cantor
    ** With move on the session, TSHA shares up ~19% YTD. Shares
closed at 60 cents a year ago

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