Dyne Therapeutics falls after upsized $375 mln share sale
DYN•Stock performance and analyst views
Through Tuesday, Dyne shares were up about 22% year to date.
According to LSEG data, 15 of 16 analysts rate the stock "strong buy" or "buy", while 1 rates it "hold"; the median price target is $40.
Use of proceeds and offering details
Morgan Stanley, Jefferies and Evercore were joint bookrunners, along with LifeSci Capital and Raymond James.
Waltham, Massachusetts-based Dyne, which has about 165.3 million shares outstanding, expects to use net proceeds to advance its drug candidate zeleciment rostudirsen for treatment of Duchenne muscular dystrophy (DMD) and zeleciment basivarsen for myotonic dystrophy type 1 (DM1), according to the prospectus.
Shares fall after upsized follow-on pricing
Shares of Dyne Therapeutics DYN.O were down 9.5% premarket on Wednesday to $21.56 after the overnight follow-on priced.
