MORF - Morphic Therapeutic proposes $200M capital raise

Morphic Holding (MORF) announces a proposed underwritten public offering in which it intends to offer and sell $200M of shares.The company intends to grant the underwriters a 30-day option to purchase up to an additional $30M of shares.Morphic intends to use the net proceeds from the proposed offering, together with its existing cash, cash equivalents and marketable securities, to fund research, clinical and process development and manufacturing of its product candidates, among other things.Jefferies, Cowen, BMO Capital Markets and RBC Capital Markets are acting as joint bookrunners for the offering.Shares down nearly 8% post-market.

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Morphic Therapeutic proposes $200M capital raise