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Genome Therapeutics Raises $9M in Common Stock Placement

NEW YORK, Sept. 30 (GenomeWeb News) - Genome Therapeutics has raised approximately $9 million in net proceeds after expenses ($9.55 million total) through a private placement of common stock, the company said today.

Approximately 3.8 million new shares of Genome Therapeutics common stock were issued to several new institutional shareholders, led by Domain Public Equity Partners. Investors also received warrants to purchase 1.9 million shares at an exercise price of $3.48 per share. The warrants are exercisable for a period of five years.

According to Steven Rauscher, CEO of Genome Therapeutics, the company will use the additional financing to support clinical studies of its lead product candidate, Ramoplanin, currently in clinical development for the prevention, treatment, and control of hospital-based infections.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.