Maze Therapeutics, Inc. (MAZE), a clinical-stage biopharmaceutical company, on Wednesday, announced the pricing of an underwritten registered offering of stock and pre-funded warrants expected to raise approximately $150 million in gross proceeds.
The offering comprises 5.54 million shares of common stock priced at $23.50 per share.
In addition, the company is offering pre-funded warrants to purchase up to 850,000 shares at a price of $23.499 per warrant.
The offering is expected to close on or about April 23.
The company stated that proceeds will be used primarily to advance research and development of its product candidates, including MZE829 for APOL1-mediated kidney disease and MZE782 for phenylketonuria and chronic kidney disease, as well as for general corporate purposes.
The company expects the net proceeds, combined with existing cash and marketable securities, to fund operations into 2029.
On Tuesday, Maze Therapeutics closed trading 4.28% lesser at $25.69 on the Nasdaq. In the after-hours trading, 1.01% higher at $25.95 on the Nasdaq.
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