ORTX - Orchard Therapeutics cheers $150M in strategic financing

Orchard Therapeutics (ORTX) trades 10.5% high in premarket trade after executing a securities purchase agreement to raise gross proceeds of $150M through the sale of 24.1M shares in a PIPE financing at $6.22/share.Proceeds to be used for supporting its growing commercial capabilities, including the launch of Libmeldy in Europe, advancing its regulatory and clinical development activities and expand its hematopoietic stem cell gene therapy approach into larger indications, as well as for general corporate purposes.Financing expected to close on Feb.9.

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Orchard Therapeutics cheers $150M in strategic financing