Maze Therapeutics Raises $150 Million in Equity and Pre-Funded Warrant Offering to Advance Kidney and Metabolic Disease Pipeline

(Source: Caiwen)

Maze Therapeutics Completes $150 Million Stock and Warrant Offering, Funding to Support R&D Until 2029; Stock Price Slightly Up After Hours.

According to RTTNews on April 22, clinical-stage biopharmaceutical company Maze Therapeutics, Inc. (stock code: MAZE) has recently completed the pricing of its stock and pre-financing warrants, with an expected total fundraising of approximately $150 million.

A total of 5,540,000 ordinary shares were issued at $23.50 per share, along with pre-funded warrants priced at $23.499 each, exercisable for up to 850,000 ordinary shares. The offering is expected to close around April 23.

The company stated that the proceeds will be mainly used to advance the development of its drug candidate pipeline, including MZE829 for APOL1-mediated kidney disease and MZE782 for phenylketonuria and chronic kidney disease, as well as for general operations. Maze Therapeutics noted that the net proceeds from this offering, combined with existing cash and marketable securities, will support the company’s operations through 2029.

As of the Nasdaq close on Tuesday, MAZE was at $25.69, down 4.28%; in after-hours trading, the stock price rebounded by 1.01% to $25.95.