BOSTON, Oct. 28, 2021 (GLOBE NEWSWIRE) — Entrada Therapeutics, Inc. (Nasdaq: TRDA), a biotechnology company aiming to transform the lives of patients by establishing Endosomal Escape Vehicle therapeutics as a new class of medicines and aiming to become the world’s foremost intracellular therapeutics company, today announced the pricing of its upsized initial public offering of 9,075,000 shares of common stock, at a price to the public of $20.00 per share. All shares are being offered by Entrada. The gross proceeds to Entrada from the offering, before deducting underwriting discounts, commissions and other offering expenses, are expected to be approximately $181.5 million. The shares are expected to begin trading on The Nasdaq Global Market under the ticker symbol “TRDA” on October 29, 2021. The offering is expected to close on November 2, 2021, subject to the satisfaction of customary closing conditions. In addition, the underwriters have a 30-day option to purchase up to an additional 1,361,250 shares of common stock at the initial public offering price less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, Cowen and Company, LLC and Evercore Group L.L.C. are acting as joint book-running managers for the offering.
About Entrada Therapeutics
Entrada Therapeutics is a biopharmaceutical company aiming to transform the lives of patients by establishing a new class of medicines, Endosomal Escape Vehicles (EEV™), to engage intracellular targets that have long been considered inaccessible and undruggable. The Company’s EEV therapeutics are designed to enable the efficient intracellular delivery of a wide range of therapeutics into a variety of organs and tissues with an improved therapeutic index. Through its proprietary, highly versatile and modular EEV Platform, Entrada is building a robust development portfolio of oligonucleotide-, antibody- and enzyme-based programs for the potential treatment of neuromuscular disease, immunology, oncology and diseases of the central nervous system. The Company’s lead oligonucleotide programs include ENTR-601-44 targeting Duchenne muscular dystrophy (DMD), and a follow-on program targeting myotonic dystrophy type 1 (DM1).
