Tenaya Therapeutics drops on pricing $75 mln share offering

Tenaya Therapeutics

17/11/2022 11:27

** Shares of Tenaya Therapeutics Inc  TNYA.O  down ~20% at
$2.55 premarket after overnight follow-on prices
    ** Heart disease drug developer sells ~28.8 mln shares,
including pre-funded warrants, at $2.60  urn:newsml:reuters.com:*:nGNX42WSTh
    ** Offering price represents 18.5% discount to stock's last
sale
    ** Co plans to use net offering proceeds to help fund
planned preclinical and clinical development of most advanced
product candidates
    ** Morgan Stanley and Piper Sandler jt bookrunners
    ** Co has ~41.4 mln shares outstanding for ~$132 mln market
cap
    ** YTD, shares down 83% through Weds close
    ** Tenaya went public in Jul 2021 after 12 mln share IPO
priced at $15
 (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))