Gene therapy company Taysha Gene Therapies’ (NASDAQ:TSHA) shares are tanking in the pre-market session today on the announcement of an underwritten public offering of $30 million.
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All the shares on offer are being sold by Taysha and underwriters will have the option to acquire an additional 15% of shares at the same terms over the next 30 days.
The development comes fresh on the heels of Taysha announcing a major deal with Astellas Pharma that will see the latter making a $50 million strategic investment in Taysha for a 15% stake. Taysha’s stock surged more than 98% on the news yesterday.
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