Verve Therapeutics Shares Tumble Premarket After Stock Sales
November 29 2023 - 5:47AM
Dow Jones News
By Colin Kellaher
Verve Therapeutics shares fell more than 10% in premarket
trading Wednesday after the clinical-stage biotechnology said it
was raising about $148 million in a public offering and concurrent
private placement.
The Boston company said it is selling 12.5 million shares at $10
apiece in the public offering, below Tuesday's closing price of
$11.93.
Verve also said it is selling nearly 2.3 million shares at $10
each to gene-editing partner Eli Lilly, which in June invested $30
million in Verve as part of the partnership.
Shares of Verve, which had around 63.7 million shares
outstanding as of Sept. 30, were recently down 12% to $10.49 in
premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 29, 2023 06:32 ET (11:32 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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