BioCentury
ARTICLE | Financial News

RNAi company Dicerna raises $100M follow-on

September 7, 2018 7:06 PM UTC

Dicerna Pharmaceuticals Inc. (NASDAQ:DRNA) gained $1.79 (14%) to $14.81 on Friday after raising $100 million via the sale of 7.7 million shares at $13.02 in a follow-on underwritten by Citigroup, Leerink, Stifel, H.C. Wainwright and SunTrust Robinson Humphrey. The price is an 18% discount to the company's close of $15.90 on Wednesday, before the company proposed after hours to sell 6.2 million shares.

The company’s lead programs are designed to silence disease-driving genes in the liver and are based on GalXC technology, which allows attachment of N-acetylgalactosamine sugars to the extended region of RNAi molecules...