The GV-backed cardiovascular therapeutics company has priced an upsized offering on Nasdaq, with the shares closing just marginally higher on the first day.
Tenaya Therapeutics, a US-based heart disease therapy developer leveraging research from University of Texas Southwestern Medical Center and Gladstone Institutes, listed in a $180m initial public offering on the Nasdaq Global Select Market on Thursday.
The offering involved the company issuing 12 million shares at $15 each, in the middle of the $14 to $16 range, and they opened at $19.50 apiece prior to closing at $15.35 on the first day of trading.
Founded in 2016, Tenaya is developing treatments for heart-related conditions with three platforms – gene therapy, cellular regeneration and precision medicine.
The company had raised at least $248m in funding, having last closed a $106m series C round in March 2021 led by RTW Investments and backed by investors including conglomerate Alphabet subsidiary GV, along with all the company’s existing shareholders.
Investment and financial services group Fidelity, RA Capital Management, The…
