Voyager Therapeutics, Inc. VYGR shares are trading lower in Thursday's after-hours session after announcing a proposed public offering of $100 million.
What To Know: Voyager Therapeutics has commenced an underwritten public offering to raise $100 million from its common stock.
All of the securities from the offering are to be sold by the company. Voyager also anticipates granting the underwriters of the offering a 30-day option to purchase up to an additional $15 million of shares of its common stock.
Citigroup and Guggenheim Securities are acting as joint book-running managers for the offering. Oppenheimer & Co. is acting as book-running manager for the offering.
Voyager said it intended to use the proceeds, along with the considerations received from Novartis AG NVS, to advance the company's anti-tau antibody program for the treatment of Alzheimer's disease (AD) and its SOD1 silencing gene therapy program for the treatment of amyotrophic lateral sclerosis (ALS) into clinical development.
In response to the news, shares fell by over 14% in after-hours trading as it will dilute the equity for existing shareholders.
Related Link: Visa's Web3 Play: A New Era For Customer Engagement?
VYGR Price Action: Shares of Voyager were down 14.2% at $9.30 in the after-hours session at the time of publication, according to Benzinga Pro.
Image by Triggermouse 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.
