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Tenaya sets price for $50 million stock offering

EditorRachael Rajan
Published 2024-02-08, 08:24 a/m
© Reuters.
TNYA
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SOUTH SAN FRANCISCO, Calif. - Tenaya Therapeutics, Inc. (NASDAQ:TNYA), a biotechnology company focused on developing treatments for heart disease, has announced the pricing of a $50 million stock offering. The clinical-stage company is offering 8,888,890 shares of common stock at $4.50 each and pre-funded warrants to purchase 2,222,271 shares at $4.499 per warrant. The offering is expected to close on February 12, 2024, subject to customary closing conditions.

This capital raise has attracted a mix of new and existing investors, including The Column Group, RA Capital Management, and funds managed by BlackRock (NYSE:BLK). Investment banks Leerink Partners and TD (TSX:TD) Cowen are the joint book-running managers, with LifeSci Capital as the lead manager.

Tenaya is leveraging its Gene Therapy, Cellular Regeneration, and Precision Medicine platforms to develop therapies for genetic cardiovascular disorders and other heart conditions. Its advanced candidates include treatments for hypertrophic cardiomyopathy and arrhythmogenic right ventricular cardiomyopathy, as well as a small molecule inhibitor for heart failure with preserved ejection fraction.

Tenaya anticipates the gross proceeds from the offering, before deducting underwriting discounts, commissions, and other expenses, to be approximately $50 million. The company has stated that the completion of the offering is not guaranteed and is subject to market and other conditions.

The information in this article is based on a press release.

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