- Dyne Therapeutics (DYN, Financial) raises $230 million from a public offering.
- Sold 27,878,788 shares at $8.25 per share, including full exercise of underwriters’ option.
- Proceeds to support pipeline for neuromuscular disease treatments.
Dyne Therapeutics (DYN), a clinical-stage biotechnology company focused on neuromuscular diseases, has successfully closed its public offering of common stock, raising approximately $230.0 million. The offering comprised 27,878,788 shares priced at $8.25 each, inclusive of the full exercise of the underwriters' option to purchase additional shares. This transaction highlights strong investor demand and serves as a significant financial boost for Dyne.
The capital injection is poised to significantly strengthen Dyne's balance sheet, providing the necessary financial runway to advance its clinical-stage programs. These initiatives are crucial for the development of therapies targeting genetically driven neuromuscular diseases, such as myotonic dystrophy type 1 and Duchenne muscular dystrophy.
Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities acted as joint book-running managers for the offering, with Jones serving as a co-manager. This financing round is a strategic move for Dyne, providing the company with the resources needed to pursue key clinical milestones and potentially initiate pivotal trials, thereby reinforcing its commitment to transforming the lives of patients with severe genetic disorders.
