RARE Daily

Translate Bio Prices $125 Million Offering

June 26, 2020

Rare Daily Staff

Translate Bio, a developer of clinical-stage messenger RNA therapeutics to treat diseases caused by protein or gene dysfunction, said it priced a public offering of 12.5 million shares of its common stock at a price of $22 per share.

In the offering, Translate Bio will issue and sell 5.7 million shares and its stockholder, Shire Human Genetic Therapies, a subsidiary of Takeda Pharmaceutical, will sell 6.8 million shares.

The gross proceeds to Translate Bio from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Translate Bio, are expected to be approximately $125.0 million. Translate will not receive any proceeds from the sale of Shire’s shares.

In addition, Translate Bio has granted the underwriters a 30-day option to purchase up to 1,876,021 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on June 30, 2020, subject to the satisfaction of customary closing conditions.

Translate Bio is focused on applying its technology to treat pulmonary diseases caused by insufficient protein production or where the reduction of proteins can modify disease. Its lead program is being developed as a treatment for cystic fibrosis and is in a phase 1/2 clinical trial.

Stay Connected

Sign up for updates straight to your inbox.