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Morphic Therapeutic slumps 6%, prices $240M offering

May 03, 2023 4:42 AM ETMorphic Holding, Inc. (MORF)By: Manshi Mamtora, CFA
  • Biopharmaceutical company developing a portfolio of oral integrin therapies for the treatment of serious chronic diseases, Morphic (NASDAQ:MORF) prices underwritten public offering of 5.33M shares at a price to the public of $45.00 per share.
  • Gross proceeds from this offering are expected to be ~$240M.
  • The offering is expected to close on or about May 5, 2023
  • Underwriters granted a 30-day option to purchase up to an additional 800K shares in connection with the public offering.
  • The stock price fell 5.6% on Tuesday late hours.

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