Shares of Sangamo Therapeutics, Inc. (SGMO) are down 28% after the company announced it has priced a $250 million underwritten offering.
The financing includes 35.2 million shares of common stock and 17.8 million pre-funded warrants; each paired with warrants to purchase an additional 53 million shares. The combined offering price of each share of common stock and accompanying warrant is $0.4719.
The offering is expected to close on or about February 4, 2026, subject to satisfaction of customary conditions.
The company stated that net proceeds will be used to support operations, advance clinical development programs, and for general corporate purposes.
SGMO has traded between $0.36 and $1.4 over the past year. The stock is currently trading at $0.40, down 28%.
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