Voyager Therapeutics slides as $100 mln stock offering priced

Voyager Therapeutics

05/01/2024 11:25

** Voyager Therapeutics Inc's  VYGR.O  shares down 16.1% at
$9.10 premarket after overnight follow-on prices
    ** Co late Thurs sold 11.1 mln shares, including 3.3 mln
pre-funded warrants, at $9 for $100 mln raise
    ** Offering price represents 17% discount to last sale
    ** Co plans to use net offering proceeds along with $20 mln
received from Novartis Pharma  NOVN.S , and additional $80 mln
upfront payment it anticipates receiving from Novartis, to
advance its gene therapy programs for treatment of Alzheimer’s
disease (AD) and amyotrophic lateral sclerosis (ALS)
    ** VYGR shares had risen 28% this week in wake of co on Tues
inking $100 mln deal with the Swiss-based drugmaker
    ** Voyager has ~44 mln shares outstanding and ~35 mln of
free float, per LSEG data
    ** VYGR shares gained 38% in 2023
    ** Citigroup and Guggenheim jt bookrunners for stock
offering, joined by Oppenheimer

 (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))