Taysha Gene Therapies tumbles after pricing downsized stock deal

Taysha Gene Therapies

27/10/2022 13:42

** Taysha Gene Therapies Inc  TSHA.O  down 16.7% at $1.80
after follow-on prices
    ** Co late Weds sold 14 mln shares at $2 for $28 mln raise
with Goldman Sachs as sole bookrunner  urn:newsml:reuters.com:*:nGNX6cKC83
    ** TSHA on Weds plunged 27.5% to $2.16 after co launched $30
mln equity offering, and analysts cut PTs
    ** Shares on Tues nearly doubled to $2.98 after $50 mln
investment by Japan's Astellas Pharma Inc  4503.T  to acquire
15% stake to support Taysha's adeno-associated virus (AAV)
therapies
    ** Taysha estimates it had ~$34 mln of cash at end-Sept
    ** Co has ~41 mln shares outstanding for ~$89 mln market
cap, per Refinitiv, and 25 mln shares of free float
    ** Shares off 81.5% YTD and a far cry from their Sept 2020
IPO of $20
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))