BUZZ-Taysha Gene Therapies slides on $200 mln stock offering launch

Jefferies Financial Group Inc.
Taysha Gene Therapies, Inc.

Jefferies Financial Group Inc.

JEF

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Taysha Gene Therapies, Inc.

TSHA

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** Shares of Taysha Gene Therapies TSHA.O down 8.5% in extended trading to $6.35 as it looks to raise equity

** TSHA commences $200 mln offering comprising stock and pre-funded warrants

** Jefferies, Goldman Sachs, Piper Sandler and Cantor Fitzgerald joint bookrunners

** Co's lead clinical program TSHA-102 in development for Rett syndrome, a rare neurodevelopmental disorder with no approved disease-modifying therapies

** TSHA shares, which have risen past five sessions, closed up 1.2% at $6.95 on Weds; stock up 51% over the past three months and up 26% YTD

** Dallas, Texas-based TSHA has ~287.4 mln shares outstanding for about $2 bln market cap

** All 13 analysts are bullish on the stock and their median PT is $12, per LSEG data