Astria Therapeutics Announces New Share Offering

Astria Therapeutics, Inc. has just announced the pricing of an underwritten offering of 10,340,000 shares of its common stock at a price of $12.09 per share, resulting in expected aggregate gross proceeds of approximately $125 million. The company expects the offering to close on or about February 1, 2024, subject to customary closing conditions.

The financing was led by Ra Capital Management, with participation from Perceptive Advisors, Venrock Healthcare Capital Partners, TCGX, Driehaus Capital Management, and Adage Capital Partners L.P., along with other existing shareholders. Jefferies and Evercore ISI are acting as joint book-running managers for the offering, while Lifesci Capital is acting as the lead manager.

Astria Therapeutics is a biopharmaceutical company focused on developing life-changing therapies for allergic and immunological diseases. Its lead program, STAR-0215, is a monoclonal antibody inhibitor of plasma kallikrein in clinical development for the treatment of hereditary angioedema, while STAR-0310 is a monoclonal antibody OX40 antagonist in preclinical development for the treatment of atopic dermatitis.

Commenting on the offering, the company's management stated, "We are pleased to have successfully priced this offering, which will provide us with the resources to advance our innovative pipeline of therapies for allergic and immunological diseases."

In the market, the company's shares have moved 1.0% and are currently trading at a price of $13.03.

The company's full 8-K submission is available here.

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