Tenaya Therapeutics tumbles on stock offering

Tenaya Therapeutics

16/11/2022 21:20

** Tenaya Therapeutics Inc's  TNYA.O  stock tumbling ~20% in
extended trading as co seeks equity
    ** Heart disease-focused biotech plans to sell $75 mln of
shares, including potential pre-funded warrants to certain
investors  urn:newsml:reuters.com:*:nGNX2bNJn2
    ** Morgan Stanley and Piper Sandler jt bookrunners for
offering
    ** Shares on Weds closed up 8.9% at $3.19, but have lost 83%
YTD
    ** Co has ~41.47 mln shares outstanding for ~$132 mln market
cap, per Refinitiv, and ~37.4 mln shares of public float
    ** Tenaya debuted 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))