Entrada Therapeutics To Raise $100M Via Registered Direct Offering of 3.4M Shares At $14.85/Share To Fund The Ongoing Clinical Development
Portfolio Pulse from Benzinga Newsdesk
Entrada Therapeutics (NASDAQ:TRDA) announced a $100M registered direct offering to fund ongoing clinical development. The offering includes 3.4M shares at $14.85/share and is expected to close by June 25, 2024. Proceeds will support Phase 2 trials and R&D activities.
June 24, 2024 | 11:20 am
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Entrada Therapeutics is raising $100M through a registered direct offering of 3.4M shares at $14.85/share. The funds will be used for ongoing clinical development, including Phase 2 trials and R&D activities.
The $100M capital raise will provide significant funding for Entrada's clinical trials and R&D, which is likely to be viewed positively by investors. The offering price is close to the current market price, indicating confidence from investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100