Orchard Therapeutics announces offering of 9M ADSs
Orchard Therapeutics announced the launch of a proposed public offering of 9M American Depositary Shares, or ADSs, representing 9M ordinary shares. 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 capital and other general corporate purposes. JP Morgan Securities, Goldman Sachs, Cowen and Company, and Barclays Capital are acting as joint book running managers for the offering. Guggenheim Securities is acting as lead manager, and Wedbush Securities is acting as co-manager for the offering.