REGENXBIO, which is developing gene therapies for rare diseases with a proprietary delivery platform, raised the proposed deal size for its upcoming IPO on Wednesday. The Rockville, MD-based company now plans to raise $122 million by offering 5.6 million shares at $22 per share. The company had previously filed to offer the same number of shares at a range of $17 to $19. At $22 per share, REGENXBIO would raise 22% greater proceeds than previously anticipated.
REGENXBIO, which was founded in 2008 and booked $4 million in license and grant revenue for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol RGNX. Morgan Stanley, BofA Merrill Lynch and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of September 14, 2015.
