Twist Bioscience rises after upsized $300 mln share sale
BUZZ-Twist Bioscience rises after upsized $300 mln share sale ** Twist Bioscience's TWST.O shares up 1.2% at $100.62 before the bell on Weds after above-target $300 mln follow-on priced
** Biotech firm late Tues sold ~3.1 mln shares at $96
** Offering size increased from $250 mln and priced at 3.5% discount to last sale
** Co intends to use net offering proceeds for R&D, expansion of manufacturing capacity, product offerings, remainder for other purposes
** Goldman Sachs, William Blair, Leerink and Guggenheim joint bookrunners
** South San Francisco, California-based firm has ~62.7 mln shares outstanding
** Through Tues, stock has more than tripled YTD
** Avg rating of 10 analysts is "buy"; median PT $115, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))