August 3, 2017 10:41am
ONCE closed down -$2.87 or -3.60% to $79.72 and is priced at $76.00
Spark Therapeutics (ONCE) has commenced a public offering of $350 M priced at $76.00 of 4.605 M shares of its common stock.
Spark also intends to grant the underwriters of the offering an option for a period of 30 days to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering at the public offering price, less the underwriting discount.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Cowen and Company, LLC will act as book running managers for the offering.
ONCE reported a loss of $74.4 million or -$2.40 in Q2; on a per-share basis, it had a loss of $2.40. Losses, adjusted for asset impairment costs, came to $1.89 per share. The results fell short of expectations which were for a loss of $1.75 per share; ONCE also posted revenue of $1.5 million in Q2, topping forecasts having an expectation of $1.3 million. ONCE shares have climbed 33% since the beginning of the year; the stock has risen 13%in the last 12 months.