Entrada Therapeutics Announces $100 Million Registered Direct Offering
Summary
BOSTON, June 24, 2024 (GLOBE NEWSWIRE) -- Entrada Therapeutics, Inc. (Nasdaq: TRDA) is a clinical-stage biopharmaceutical company aiming to transform the lives of patients by establishing a new class of medicines that engage intracellular targets long considered inaccessible. The offering is expected to close on or about June 25, 2024, subject to the satisfaction of customary closing conditions.Entrada expects to use the net proceeds from the offering to fund the ongoing clinical development of each of ENTR-601-44 and ENTR-601-45 through initiation of our planned Phase 2b clinical trials and ENTR-601-50 through initiation of our planned Phase 2 multiple ascending dose trial, the ongoing research and development of our development pipeline (including our neuromuscular and ocular franchises), and the remainder for working capital and other general corporate purposes.The shares of common stock, pre-funded warrants and shares of common stock issuable upon the exercise of the pre-funded warrants were offered pursuant to a shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (the SEC) on November 1, 2022 (File No. Through this proprietary, versatile and modular approach, Entrada is advancing a robust development portfolio of RNA-, antibody- and enzyme-based programs for the potential treatment of neuromuscular, ocular, metabolic and immunological diseases, among others. The Companys lead oligonucleotide programs are in development for the potential treatment of people living with Duchenne who are exon 44, 45 and 50 skipping amenable. Except as required by applicable law, Entrada does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.