04:26 AM EDT, 08/08/2024 (MT Newswires) -- Precigen ( PGEN ) said on Wednesday that it has priced its public offering of about 35.3 million common shares at $0.85 per share.

The company also granted underwriters a 30-day option to purchase up to an additional 5.3 million shares.

Precigen ( PGEN ) expects to raise about $30 million in gross proceeds from the offering, which is anticipated to close on Friday.

The firm aims to use the proceeds to advance its investigational PRGN-2012 AdenoVerse gene therapy for approval by regulators and ready for commercial use. It also plans to use the proceeds for limited clinical development of other pipeline assets, working capital and general corporate purposes.

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