By Rob Curran
Shares of Mineralys Therapeutics rose sharply after the biotech concern priced a follow-on sale of stock above its Wednesday closing price.
Its stares were recently trading 18% higher at $14.73 premarket.
Mineralys agreed to sell 8.9 million shares and warrants at a price of $13.50 a share for gross proceeds of about $120 million before fees and expenses. Shares closed at $12.47 Wednesday. The institutional investors who participated in the private investment in public equity transaction include new investors, Silicon Valley investment firm TCGX, OrbiMed and Venrock Healthcare Capital Partners; and existing investor RA Capital Management, Samsara BioCapital and others.
Mineralys is developing treatments for blood pressure, kidney disease and other ailments.
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