CAMBRIDGE, Mass., (GLOBE NEWSWIRE) -- Generation Bio Co. (Nasdaq: GBIO), an innovative genetic medicines company creating a new class of gene therapy, today announced the pricing of its initial public offering of 10,526,316 shares of its common stock at an initial public offering price of $19.00 per share. In addition, Generation Bio has granted the underwriters a 30-day option to purchase up to 1,578,947 additional shares of common stock at the initial public offering price, less the underwriting discount and commissions. All of the shares are being offered by Generation Bio.
Generation Bio has been approved for listing on the Nasdaq Global Select Market and is expected to begin trading on Friday, June 12, 2020 under the ticker symbol “GBIO.” The gross proceeds of the offering, before deducting the underwriting discount and commissions and other offering expenses payable by Generation Bio, are expected to be approximately $200 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on Tuesday, June 16, 2020, subject to customary closing conditions.
J.P. Morgan, Jefferies, and Cowen are acting as joint bookrunning managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.
About Generation Bio
Generation Bio is an innovative genetic medicines company focused on creating a new class of gene therapy to provide durable, redosable treatments for patients suffering from both rare and prevalent diseases. The company’s non-viral platform incorporates a proprietary high-capacity DNA construct called closed-ended DNA, or ceDNA; a novel cell-targeted lipid nanoparticle delivery system, or ctLNP; and an established, scalable capsid-free manufacturing process. The company is designing therapies to provide targeted delivery of genetic payloads that include large and multiple genes across a broad array of tissues, and to be redosable for individualized and extended treatment throughout a patient’s life. The platform is designed to expand access to treatments for rare diseases and to address prevalent diseases through efficient, scalable manufacturing.
