- Graphite Bio Inc (NASDAQ:GRPH) is set to go public on the heels of a $238 million raise less than ten months after getting started with a Series A funding of $45 million.
- Graphite is using a familiar tool to tackle genetic diseases with its CRISPR/Cas9 technology.
- Graphite is looking to enroll 15 adults in the GPH101 Phase 1/2 trial, hoping to launch by mid-2021, with initial proof-of-concept data expected by the end of 2022.
- According to the SEC S-1 filing, Graphite plans to spend about $90 million of its IPO funds on this Phase 1/2 trial, with another $40 million going to push through IND studies for each of their other two programs in X-linked severe combined immunodeficiency and Gaucher disease.
- An additional $80 million is to be earmarked for other preclinical candidates.
- Graphite has set a launch price of $17 per share and will trade on NASDAQ under the ticker GRPH.
Morgan Stanley Maintains Overweight on Raytheon Technologies, Raises Price Target to $124
Morgan Stanley analyst Kristine Liwag maintains Raytheon Technologies (NYSE:RTX) with a Overweight and raises the price target from $118 to $124.
