Shares of Generation Bio Inc., a biotech that specializes in gene therapy treatments for rare diseases, soared 23% Friday in their trading debut, after the IPO was upsized and priced at $19 a share, the high end of its price range. The company sold 10.5 million shares to raise $199.5 million. The shares are trading on Nasdaq, under the ticker symbol "GBIO." J.P. Morgan, Jefferies, Cowen and Wedbush PacGrow were underwriters on the deal. Proceeds will be used to fund R&D, to develop platform technologies and for general corporate purposes. "We are an innovative genetic medicines company creating a new class of gene therapy utilizing our proprietary non-viral gene therapy platform to provide durable, redosable treatments for millions of patients living with rare and prevalent diseases," the company says in its prospectus.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 12, 2020 12:31 ET (16:31 GMT)
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