NetworkNewsBreaks – Translate Bio Inc. (NASDAQ: TBIO) Closes $275.2M Underwritten Public Offering

July 9, 2020 11:38:40

Translate Bio (NASDAQ: TBIO), a clinical-stage messenger RNA (“mRNA”) therapeutics company developing a new class of potentially transformative medicines to treat diseases caused by protein or gene dysfunction, has closed an underwritten public offering of 12,506,811 shares of its common stock. According to the update, Translate Bio issued and sold 5,681,819 shares and an existing stockholder, Shire Human Genetic Therapies, Inc. (Shire), a subsidiary of Takeda Pharmaceutical Company Limited, sold 6,824,992 shares. Each of the shares were sold at the public offering price of $22.00, resulting in the gross proceeds of approximately $275.2 million. Translate Bio will not receive proceeds from the sale of the shares by Shire. Translate Bio has granted underwriters a 30-day option to purchase up to 1,876,021 additional shares of common stock at the public offering price.

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About Translate Bio

Translate Bio is a clinical-stage mRNA therapeutics company developing a new class of potentially transformative medicines to treat diseases caused by protein or gene dysfunction. Translate Bio is primarily focused on applying its technology to treat pulmonary diseases caused by insufficient protein production or where the reduction of proteins can modify disease. Translate Bio’s lead program is being developed as a treatment for cystic fibrosis (CF) and is in a Phase 1/2 clinical trial. The Company also believes its technology is applicable to a broad range of diseases, including diseases that affect the liver. Additionally, the platform may be applied to various classes of treatments, such as therapeutic antibodies or vaccines in areas such as infectious disease and oncology.

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