Orchard Therapeutics Launches Proposed Public Offering
Orchard Therapeutics plc - American Depositary Shares (ORTX)
Last orchard therapeutics plc - american depositary shares earnings: 2/27 07:00 am
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Source: GlobeNewswire
BOSTON and LONDON, June 03, 2019 (GLOBE NEWSWIRE) -- Orchard Therapeutics (Nasdaq: ORTX), a leading commercial-stage biopharmaceutical company dedicated to transforming the lives of patients with serious and life-threatening rare diseases through innovative gene therapies, today announced the launch of a proposed public offering of 9,000,000 American Depositary Shares (“ADSs”) representing 9,000,000 ordinary shares. Each of the ADSs are being offered by Orchard. Orchard expects to grant the underwriters a 30-day option to purchase up to 1,350,000 additional ADSs. Orchard intends to use the net proceeds of the offering to fund ongoing development of its product candidates, ongoing commercialization of Strimvelis® in the European Union and the expansion of Orchard’s marketing and sales infrastructure in key markets, including the United States and Europe. The remainder of the net proceeds will be used for ongoing business development, general and administrative expenses, working capi
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