Spark Therapeutics Prices Offering At $76/Share

(RTTNews) - Spark Therapeutics, Inc. (ONCE) has offered to sell about 4.61 million shares of its common stock to the public at a price of $76 each. The underwriter has a 30-day option to purchase up to an additional 690,789 shares of its common stock.

The offering is expected to rake in aggregate net proceeds of $330.8 million, and is scheduled to close on or about August 9, 2017.

Spark's investigational candidate LUXTURNA (voretigene neparvovec) is currently under Priority Review with FDA for the treatment of biallelic RPE65-mediated IRD and has been designated as a drug for a rare pediatric disease. The marketing authorization application for LUXTURNA has been submitted to EMA for the treatment of vision loss due to Leber congenital amaurosis or retinitis pigmentosa caused by confirmed biallelic RPE65 mutations.

LUXTURNA has received breakthrough therapy and orphan product designations from FDA and orphan product designations from EMA. The pipeline also includes SPK-7001 in an ongoing Phase 1/2 clinical trial for choroideremia.

Spark has ongoing clinical trials investigating gene therapies in hemophilia A and B. SPK-8011 is in an ongoing, dose-escalation Phase 1/2 clinical trial as a potential one-time therapy for hemophilia A. SPK-9001 is in a Phase 1/2 clinical trial for hemophilia B.

ONCE closed Thursday's trading session down by over 3 percent at $76.85.