MORF - Morphic launches stock offering
2023-05-02 16:19:46 ET
Morphic Holding ( NASDAQ: MORF ) on Tuesday announced a proposed underwritten public offering of its common stock.
The company also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of its shares.
All of the shares of common stock are being offered by Morphic.
Pricing and details on the number of shares being offered were not disclosed.
Jefferies, TD Cowen, BMO Capital Markets, RBC Capital Markets and Wells Fargo Securities are acting as joint bookrunners for the offering.
Proceeds from the proposed offering, together with its existing cash, cash equivalents and marketable securities, will be used to fund research, clinical trials and process development and manufacturing of its product candidates, among other things.
Shares -5.3% at $45.94 after hours.
For further details see:
Morphic launches stock offering