Orchard Therapeutics plc (Nasdaq: ORTX), a Boston, Mass., USA and London, UK-based biopharmaceutical company focused on patients with serious and life-threatening rare diseases through autologous ex vivo gene therapies, closed its initial public offering of 16,103,572 American Depositary Shares (“ADSs”), each representing an ordinary share at an initial public offering price of $14.00 per share.
The gross proceeds from the offering were $225.5m before deducting underwriting commissions and estimated offering expenses. This includes the partial exercise by the underwriters of their option to purchase up to 1,817,857 additional ADSs from Orchard at the initial public offering price, less underwriting discounts and commissions.
Each of the ADSs in the offering were offered by Orchard Therapeutics. The ADSs commenced trading on The Nasdaq Global Select Market on October 31, 2018 under the ticker symbol “ORTX.”
J.P. Morgan, Goldman Sachs & Co. LLC and Cowen are acting as joint book-running managers for the offering, and Wedbush PacGrow is acting as co-manager.
Orchard Therapeutics is an integrated commercial-stage biopharmaceutical company advancing a portfolio of autologous ex vivo gene therapies targets serious and life-threatening rare diseases, initially primary immune deficiencies, neurometabolic disorders and hemoglobinopathies.