Shares of Taysha Gene Therapies Inc. declined in Tuesday’s after-hours session, following news the company plans to sell $30 million of common stock in an underwritten public offering.
All shares in the offering will be offered by Taysha, the company said.
At 4:54 p.m. ET, the company’s stock had fallen 11.74% to trade at $2.63 per share. Volume at the time topped 2 million shares.
The stock finished the day’s regular session with a 97.35% gain, closing at $2.98 per share. Volume in the session was over 92 million shares. The stock’s 65-day average volume is 112,819 shares.
After the bell Monday, Astellas Pharma Inc. and Taysha disclosed a strategic investment to support the advancement of Taysha’s adeno-associated virus gene therapy development programs. The deal will see Astellas invest a total of $50 million to acquire 15% of Taysha. Astellas will also receive an observer seat on Taysha’s board.
Taysha has a market cap of $62.05 million, 41.09 million shares outstanding and a public float of 23.51 million shares.
