BUZZ-Dyne Therapeutics slides after unveiling $300 million stock offering

Reuters12-10
BUZZ-Dyne <a href="https://laohu8.com/S/LENZ">Therapeutics</a> slides after unveiling $300 million stock offering

** Drug developer Dyne Therapeutics' DYN.O shares slide 14% to $19.09

** DYN late Monday kicked off public offering of $300 million worth of shares

** Stock closed up 9.5% on Monday after positive data for its muscle wasting drug

** Morgan Stanley, Jefferies, Stifel and Guggenheim Securities are joint book-running managers for offering

** Proceeds will be used to repay debt and advance the development of its pipeline, among other purposes

** DYN has 142.6 million outstanding shares as of September 30, according to its prospectus

** 13 of 16 brokerages rate the stock "buy" or higher and three "hold"; median PT $38 - data compiled by LSEG

** As of last close, DYN stock was down 5.8% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment