MORF - Morphic Therapeutic slumps 6% prices $240M offering
2023-05-03 04:42:30 ET
- Biopharmaceutical company developing a portfolio of oral integrin therapies for the treatment of serious chronic diseases, Morphic ( NASDAQ: MORF ) prices underwritten public offering of 5.33M shares at a price to the public of $45.00 per share.
- Gross proceeds from this offering are expected to be ~$240M.
- The offering is expected to close on or about May 5, 2023
- Underwriters' granted a 30-day option to purchase up to an additional 800K shares in connection with the public offering.
- The stock price fell 5.6% on Tuesday late hours.
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Morphic Therapeutic slumps 6%, prices $240M offering