Dyne closes $345M public offering a week after early positive data for dystrophy drugs

Dyne Ther­a­peu­tics com­plet­ed its pub­lic of­fer­ing on Thurs­day af­ter pre­sent­ing ini­tial da­ta from Phase I/II dy­s­tro­phy tri­als study­ing two trans­fer­rin re­cep­tor-tar­get­ing drug can­di­dates.

The Waltham, MA-based biotech sold al­most 20 mil­lion shares at $17.50 each, re­sult­ing in gross pro­ceeds of $345.1 mil­lion. The com­pa­ny did not dis­close how it would use the funds, but the move comes around a week af­ter it re­vealed on Jan. 3 that two of its drugs showed promise in sep­a­rate, po­ten­tial­ly reg­is­tra­tional tri­als.

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