Ventyx Biosciences To Sell $176.6 Mln Of Shares At $33/share; Stock Down In Pre-market

(RTTNews) - Ventyx Biosciences, Inc. (VTYX), a company focused on autoimmune and inflammatory disorders, said on Monday that it has inked a deal with certain institutional investors to sell 5.35 million shares at $33 per share in a private placement.

The total proceeds from the transaction, anticipated to be closed on September 20, are expected to be at around $176.6 million.

The drug maker aims to utilize the net proceeds to fund the clinical development of VTX958, VTX002, VTX2735, and VTX3232, other preclinical development initiatives, and others.

The private placement was led by Redmile Group, with participation by Boxer Capital, Braidwell LP, EcoR1 Capital, Vivo Capital, Great Point Partners, LLC, Adage Capital Management, and others.

Morgan Stanley, Jefferies, Piper Sandler, and LifeSci Capital have been serving as the placement agents for the private placement.

VTYX is trading down by 0.14 percent at $36.80 per share in pre-market on the NasdaqGS .