(Alliance News) - PureTech Health PLC affiliate Karuna Therapeutics Inc is to raise nearly USD90 million in its listing on the Nasdaq, PureTech said Friday.
Karuna will offer 5.6 million new shares at USD16.00 each, to raise USD89.2 million to develop its therapies for disabling neuropsychiatric conditions.
Karuna will start trading on Friday, and following the offer, PureTech will hold 7.4 million Karuna shares, around 33% of the company's shares.
PureTech shares were 1.8% higher on Friday at a price of 234.16 each.
PureTech (PRTC)