Entrada Therapeutics Announces $100 Million Registered Direct Offering

Core Viewpoint - Entrada Therapeutics, Inc. has announced a registered direct offering of common stock and pre-funded warrants, aiming to raise approximately $100 million to support its clinical development and research initiatives [4][6]. Group 1: Offering Details - The company has entered into a securities purchase agreement for the purchase of 3,367,003 shares of common stock and pre-funded warrants to purchase an equal number of shares [4]. - The purchase price for the common stock is set at $14.85 per share, while the pre-funded warrants are priced at $14.8499 each [5]. - The offering is expected to close on or about June 25, 2024, pending customary closing conditions [5]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to fund ongoing clinical development for ENTR-601-44 and ENTR-601-45, as well as the initiation of planned Phase 2b clinical trials and a Phase 2 multiple ascending dose trial for ENTR-601-50 [6]. - Additional funds will support research and development across the company's pipeline, including neuromuscular and ocular franchises, with the remainder allocated for working capital and general corporate purposes [6]. Group 3: Company Overview - Entrada Therapeutics is a clinical-stage biopharmaceutical company focused on creating a new class of medicines that target previously inaccessible intracellular sites [9]. - The company is advancing a development portfolio that includes RNA-, antibody-, and enzyme-based programs aimed at treating various diseases, including neuromuscular and ocular conditions [9]. - Its lead oligonucleotide programs are in development for treating Duchenne muscular dystrophy, specifically targeting exon 44, 45, and 50 skipping [9].