Taysha rockets on news of private placement and R&D update

US clinical-stage drug developer Taysha Gene Therapies (Nasdaq: TSHA) saw its share price leap 133% to $1.72 yesterday, after it announced a securities purchase agreement for a private placement financing (the PIPE) that is expected to result in gross proceeds of about $150 million, before deducting placement agent commissions and offering expenses.

The PIPE was led by new investor, RA Capital Management, with participation from a large institutional investor, PBM Capital, RTW Investments, Venrock Healthcare Capital Partners, TCGX, Acuta Capital Partners, Kynam Capital Management, Octagon Capital, Invus, GordonMD Global Investments and B Group Capital.

“We are pleased by the support from this prestigious group of new and existing investors, which we believe highlights the enthusiasm of the early clinical readout of the first patient treated in our REVEAL trial and reinforces the potential of gene therapy to transform the lives of patients suffering from devastating diseases,” said Sean Nolan, chairman and chief executive of Taysha.