PureTech Health PLC - Boston, Massachusetts-based biotherapeutics company - Receives USD118 million from selling one million shares of its founded entity Karuna Therapeutics Inc through a block trade carried out by Morgan Stanley & Co LLC. PureTech Health still holds 2.4 million Karuna shares, a 9.0% stake. Says proceeds will be used to further advance PureTech Health's clinical-stage wholly-owned pipeline comprised of 24 products and product candidates, including two that have received US Food & Drug Administration clearance and European marketing authorisation.
PureTech Health adds its founded entity Vor Biopharma has closed its initial public offering of 9.8 million shares, including its full exercise of option to purchase an additional 1.5 million shares, which were sold to the public at a price of USD18.00 per share. Notes IPO opened on Friday. Says Vor's gross proceeds from the offering, before deducting the underwriting discounts, commissions and other offering expenses, are USD203.4 million. PureTech Health now owns 3.2 million shares of Vor common stock, representing 8.6% of Vor's outstanding shares.
Current stock price: 377.00 pence
Year-to-date change: down 5.8%
By Zoe Wickens; zoewickens@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
PureTech (PRTC)