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Tectonic Therapeutic ( (TECX) ) has provided an announcement.
On February 3, 2025, Tectonic Therapeutic, Inc. announced a $185 million private placement agreement with accredited investors to fund its development pipeline, working capital, and general corporate purposes. The private investment in public equity (PIPE) involves the sale of 3,689,465 shares of common stock, with the transaction expected to close on February 5, 2025. The financing will support the clinical development of TX45 and TX2100, as well as the company’s discovery platform. The shares are sold under Regulation D’s exemption and are not registered under the Securities Act of 1933. This move is expected to enhance Tectonic’s operational capacity and industry positioning by providing necessary capital for its ongoing and future projects.
More about Tectonic Therapeutic
Tectonic Therapeutic, Inc. is a biotechnology company focused on the discovery and development of therapeutic proteins and antibodies that modulate the activity of G-protein coupled receptors (GPCRs). The company leverages its proprietary technology platform, GEODe, to develop biologic medicines aimed at addressing significant unmet medical needs, particularly in areas with poor or nonexistent therapeutic options. Headquartered in Watertown, Massachusetts, Tectonic aims to improve patient quality of life through innovative GPCR-targeted drug discovery.
YTD Price Performance: 18.49%
Average Trading Volume: 238,463
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $798.7M
For an in-depth examination of TECX stock, go to TipRanks’ Stock Analysis page.
