WALTHAM, Mass., March 01, 2021 (GLOBE NEWSWIRE) — Morphic Holding, Inc. (Nasdaq: MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, today announced a proposed underwritten public offering in which it intends to offer and sell $200.0 million of shares of its common stock. In addition, Morphic intends to grant the underwriters a 30-day option to purchase up to an additional $30.0 million of shares of its common stock. All of the shares of common stock are being offered by Morphic. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Jefferies, Cowen, BMO Capital Markets and RBC Capital Markets are acting as joint bookrunners for the offering.
Morphic intends to use the net proceeds from the proposed offering, together with our existing cash, cash equivalents and marketable securities, to fund research, clinical and process development and manufacturing of Morphic’s product candidates, including MORF-057 and other programs generated from Morphic’s MInT Platform, working capital, capital expenditures and other general corporate purposes.
About Morphic Therapeutic
Morphic Therapeutic is a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular and metabolic diseases, fibrosis and cancer. In collaboration with AbbVie, Janssen, and Schrödinger, Morphic is advancing its pipeline and discovery activities using its proprietary MInT technology platform which leverages Morphic’s unique understanding of integrin structure and biology.
