Benitec Biopharma Inc. - Common Stock (BNTC)

HAYWARD, Calif., Aug. 11, 2023 (GLOBE NEWSWIRE) -- Benitec Biopharma Inc. (Nasdaq: BNTC) (“Benitec” or the “Company”), a clinical-stage, gene therapy-focused, biotechnology company developing novel genetic medicines based on its proprietary DNA-directed RNA interference ("ddRNAi") “Silence and Replace” platform, today announced it closed its previously announced underwritten public offering of 15,544,041 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and accompanying warrants to purchase up to 15,544,041 shares of common stock. Each share of common stock was sold together with one common warrant to purchase one share of common stock at a combined offering price of $1.93 and each pre-funded warrant was sold together with one common warrant to purchase one share of common stock at a combined offering price of $1.9299. The pre-funded warrants are immediately exercisable until exercised in full at an exercise price of $0.0001 per share of common stock. The common warrants are immediately exercisable at an exercise price of $3.86 per share of common stock and will expire on the fifth anniversary of such initial exercisable date. In addition, Benitec has granted the underwriter a 30-day option to purchase an additional 2,331,606 shares of common stock and/or common warrants to purchase up to an additional 2,331,606 shares of common stock at the public offering price, less discounts and commissions. As of the date hereof, the underwriter has partially exercised this over-allotment option and purchased 458,134 additional shares of common stock and 458,134 additional common warrants to purchase up to an additional 458,134 shares of common stock.

Benitec Biopharma Inc. (NASDAQ: BNTC) is one of today’s top gainers. The company’s shares are currently up 115.54% on the day to $4.16.

Benitec Biopharma Inc. (NASDAQ: BNTC), a leader in gene therapy, has announced that the U.S. Food and Drug Administration (FDA)