October 10, 2018 8:43pm
BOLD closed down -$6.88or -18.73% to $29.83 after Tuesday's +$0.37 to $36.70.
With a 52 week change of +32.63% with ...
... 37.33 M shares outstanding and a float of 29.2 M shares – issue a -8.43% or 1.97 M share short ratio.
Audentes Therapeutics, Inc. (BOLD), a clinical stage biotechnology company focused on developing and commercializing gene therapy products for patients living with serious, life-threatening rare diseases -
.... intends to offer $150 million in a public offering
....and grant the underwriters a 30-day option to purchase up to an additional $22.5 million.
BofA Merrill Lynch, J.P. Morgan Securities LLC and Cowen are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as co-manager.
A strong point is institutional ownership of 103.95% (?) and a minimal 2.32% owned by insiders. Current cash position of $314.43 M and NO debt enhances the raise.