Benitec Biopharma Inc. Announces Pricing of $30 Million Common Stock Offering

Core Viewpoint - Benitec Biopharma Inc. has announced the pricing of an underwritten offering of 1,443,000 shares and a concurrent registered direct offering of 900,000 shares, aiming to raise approximately $30 million to support its product candidate programs and general corporate purposes [1][2]. Group 1: Offering Details - The underwritten offering includes 1,443,000 shares of common stock priced at $13.00 each, and pre-funded warrants priced at $12.9999, which are immediately exercisable at an exercise price of $0.0001 per share [1]. - The concurrent registered direct offering involves 900,000 shares of common stock with long-term investor Suvretta Capital [1]. - The total gross proceeds from both offerings are expected to be around $30 million before deducting any underwriting discounts and expenses [2]. Group 2: Use of Proceeds - The net proceeds from the offerings will be utilized to further develop the company's product candidate programs, along with working capital and other general corporate purposes [2]. Group 3: Management and Governance - In connection with the registered direct offering, discussions have been held regarding the appointment of David Friedman from Suvretta Capital to the company's board of directors, pending board approval [4]. - The company previously appointed Kishen Mehta, a portfolio manager at Suvretta Capital, to its board on June 26, 2024 [4]. Group 4: Company Overview - Benitec Biopharma Inc. is a clinical-stage biotechnology company based in Hayward, California, focusing on developing novel genetic medicines using its proprietary "Silence and Replace" platform [7]. - The company's technology combines RNA interference with gene therapy to create treatments for chronic and life-threatening conditions, including Oculopharyngeal Muscular Dystrophy (OPMD) [7].