Taysha Gene Therapies Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Taysha Gene Therapies (Nasdaq: TSHA) announced plans for a public offering of $30 million in common stock, subject to market conditions. The company will grant underwriters a 30-day option to purchase up to an additional 15% of the shares. Goldman Sachs & Co. LLC is the sole book-runner for the offering. This move aims to bolster Taysha's resources for developing AAV-based gene therapies for CNS diseases. The offering follows a previously filed shelf registration statement with the SEC, effective since October 14, 2021.

Positive

• Funds from the offering are intended to support the development of AAV-based gene therapies.
• Goldman Sachs & Co. LLC is a reputable underwriter, providing credibility to the offering.

Negative

• The public offering may lead to dilution of existing shares, affecting current shareholders.
• Market conditions remain uncertain, posing risks to the completion and terms of the offering.

DALLAS, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a patient-centric, pivotal-stage gene therapy company focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system (CNS) in both rare and large patient populations, today announced that it intends to offer and sell, subject to market conditions, $30 million of shares of its common stock in an underwritten public offering. All shares of common stock to be sold in the offering will be offered by Taysha. Taysha also intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering under the same terms and conditions. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Goldman Sachs & Co. LLC is acting as sole book-runner for the offering.

A shelf registration statement relating to the shares of common stock offered in the public offering described above was filed with the Securities and Exchange Commission (the “SEC”) on October 5, 2021 and declared effective by the SEC on October 14, 2021. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may also be obtained by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Taysha Gene Therapies        

Taysha Gene Therapies (Nasdaq: TSHA) is on a mission to eradicate monogenic CNS disease. With a singular focus on developing curative medicines, we aim to rapidly translate our treatments from bench to bedside. We have combined our team’s proven experience in gene therapy drug development and commercialization with the world-class UT Southwestern Gene Therapy Program to build an extensive, AAV gene therapy pipeline focused on both rare and large-market indications. Together, we leverage our fully integrated platform—an engine for potential new cures—with a goal of dramatically improving patients’ lives.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “expects,” “intends,” “projects,” “plans,” and “future” or similar expressions are intended to identify forward-looking statements. Forward-looking statements include statements concerning the potential of Taysha’s product candidates, including its preclinical product candidates, to positively impact quality of life and alter the course of disease in the patients Taysha seeks to treat, its research, development and regulatory plans for its product candidates, and Taysha’s anticipated public offering, including the uncertainties related to market conditions and the completion of the public offering on the anticipated terms, if at all. Forward-looking statements are based on management’s current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding Taysha’s business are described in detail in its SEC filings, including in Taysha’s Annual Report on Form 10-K for the full-year ended December 31, 2021, and Taysha’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, both of which are available on the SEC’s website at www.sec.gov. Additional information will be made available in other filings that Taysha makes from time to time with the SEC. Such risks may be amplified by the impacts of the COVID-19 pandemic. These forward-looking statements speak only as of the date hereof, and Taysha disclaims any obligation to update these statements except as may be required by law.

Company Contact:
Kimberly Lee, D.O.
Chief Corporate Affairs Officer
Taysha Gene Therapies
klee@tayshagtx.com

Media Contact:
Carolyn Hawley
Canale Evoke
carolyn.hawley@evokegroup.com

 

FAQ

What is Taysha Gene Therapies planning to do with the $30 million public offering?

The funds are intended to support the development of AAV-based gene therapies for CNS diseases.

Who is handling the public offering for Taysha Gene Therapies?

Goldman Sachs & Co. LLC is the sole book-runner for the public offering.

What is the potential impact of the stock offering on TSHA shares?

The offering may lead to share dilution, which could negatively impact existing shareholders.

What percentage of additional shares can underwriters purchase in the TSHA offering?

Underwriters have a 30-day option to purchase up to an additional 15% of the shares offered.

When was the shelf registration statement for TSHA filed?

The shelf registration statement was filed on October 5, 2021, and became effective on October 14, 2021.