VTYX - Ventyx Biosciences announces $176.6M private placement of common stock
- Ventyx Biosciences| ( NASDAQ: VTYX ) has entered into a stock purchase agreement for the sale of 5.35M shares of its common stock at an offering price of $33.00/share in a private placement to certain qualified institutional buyers and institutional accredited investors.
- The gross proceeds of the private placement are expected to be ~$176.6M, before deducting placement agent fees and other expenses.
- The private placement is expected to close on September 20, 2022.
- The company currently intends to use the net proceeds from the proposed private placement, together with existing cash and cash equivalents, to fund the clinical development of VTX958, VTX002, VTX2735 and VTX3232, the preclinical development of other programs, research activities and working capital and other general corporate purposes.
- The company also expects to extend its cash runway into 2025.
For further details see:
Ventyx Biosciences announces $176.6M private placement of common stock