Policy & Regulation
AVROBIO raises USD100m from public offering
19 February 2020 -

Gene therapy company AVROBIO Inc (NASDAQ:AVRO) reported on Tuesday the completion of its public offering of 4,350,000 common stock for aggregate gross proceeds of USD100m, before deducting underwriting discounts and commission and estimated offering expenses.

The company has provided the underwriters with a 30-day option to purchase up to 652,500 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.

Net proceeds from the offering, with existing cash resources, may be used by the company to fund its current programmes in Fabry disease, cystinosis, Gaucher disease and Pompe disease, external and internal manufacturing and process development activities, research and development activities, planned general and administrative expenses and working capital, as well as other general corporate purposes.

Morgan Stanley, Cowen, Wells Fargo Securities and Guggenheim Securities acted as joint book-running managers for the offering.

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