Voyager Therapeutics slides on stock offering

Voyager Therapeutics

04/01/2024 21:46

** Shares of Voyager Therapeutics Inc  VYGR.O  down 14.5% at
$9.27 in extended trading as co looks to raise equity
    ** Co commences $100 mln offering, including pre-funded
warrants in lieu of shares
    ** 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 deal with the Swiss-based drugmaker
    ** Voyager has ~44 mln shares outstanding for $474 mln
market cap and ~35 mln of free float, per LSEG data
    ** Citigroup and Guggenheim jt bookrunners for stock
offering, joined by Oppenheimer
    ** VYGR shares gained 38% in 2023

 (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))