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)

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