Taysha Gene Therapies, Inc. TSHA shares are surging higher Monday. The company reported positive clinical results and $150 million in private placement financing.
The Details:
Taysha Gene Therapies reported data from first adult patient dosed in the company's REVEAL Phase 1/2 trial showed TSHA-102 was well-tolerated with no treatment-emergent serious adverse events (SAEs) as of the six-week assessment and showed improvement in key efficacy measures.
Taysha Gene Therapies also announced $150 million in private placement financing led by RA Capital Management. The company said that the investment will extend its cash runway into the third quarter of 2025.
Sean P. Nolan, CEO of Taysha, commented, "Our successful completion of a $150 million PIPE from top-tier investors significantly bolsters our balance sheet and we believe highlights the enthusiasm for our TSHA-102 program and the early clinical readout of the first patient treated in the REVEAL trial. By extending our cash runway into the third quarter of 2025, we can focus on execution as we endeavor to deliver on key value-creating milestones."
Shares of TSHA are moving higher on very heavy trading volume. According to data from Benzinga Pro, more than 43.5 million shares have been traded in the session, far exceeding the stock's 100-day average of only 246,824 shares.
Related News: Why Zynerba Pharmaceuticals Stock Is Skyrocketing Today
TSHA Price Action: According to Benzinga Pro, Taysha shares are trading 112% higher at $1.57 at the time of publication.
Image: qimono from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
