Taysha Gene Therapies' stock moved sharply lower in pre-market activity on Thursday after the company disclosed the pricing of a public offering of common stock and pre-funded warrants. Shares fell 13% ahead of the opening bell following the terms release.
The underwritten offering was priced at 32,500,001 shares of common stock at $6.00 per share and pre-funded warrants to acquire 833,333 shares at $5.999 per warrant, before underwriting discounts and commissions. Taysha stated it expects gross proceeds of approximately $200.0 million from the sale, before the deduction of underwriting discounts and commissions and other offering expenses.
In connection with the deal, the company has granted the underwriters a 30-day option to buy up to an additional 5,000,000 shares at the public offering price, less underwriting discounts and commissions. The transaction is subject to customary closing conditions and is expected to close on or about June 26, 2026.
Taysha is a clinical-stage biotechnology company developing adeno-associated virus-based gene therapies aimed at treating severe monogenic diseases of the central nervous system. The announced financing is intended to raise capital for the company's programs, with the stated gross proceeds figure reflecting the amount prior to customary deductions.
Deal participants and timetable
- Jefferies, Goldman Sachs & Co. LLC, Piper Sandler and Cantor are named as joint book-running managers for the offering.
- Baird is serving as lead manager for the transaction.
- The offering is expected to close on or about June 26, 2026, subject to customary closing conditions.
Market reaction and context
Following the pricing announcement, Taysha's shares fell 13% in pre-market trading on Thursday. The sell-off occurred after the company revealed the size and price of the offering and the availability of pre-funded warrants, which are structured to allow purchasers to acquire shares while limiting immediate voting dilution.
The company’s decision to raise capital via a public offering, the precise pricing and the underwriters’ option to expand the offering are all explicit aspects of the financing disclosed by Taysha. The announced gross proceeds figure is reported before deductions for underwriting discounts, commissions and other offering-related expenses.
What is known and what remains contingent
- The offering has been priced and the share and warrant counts and prices have been disclosed publicly.
- The closing is expected on or about June 26, 2026, but remains subject to customary closing conditions.
- The ultimate net proceeds to Taysha will be smaller than the stated gross proceeds because of underwriting discounts, commissions and other offering expenses.