CAMP4 soars on planned private placement of up to $100 million

Cambridge, USA-based CAMP4 Therapeutics (Nasdaq: CAMP) today announced that it has entered into definitive securities purchase agreements with certain institutional and accredited investors for up to $100 million in gross proceeds through a private placement, sending the firm’s shares rocketing more than 72% to $3.45 in pre-market activity.

CAMP4 intends to use the net proceeds from the private placement to fund the pre-clinical and clinical development of its SYNGAP1 program, working capital, and general corporate purposes.

The clinical-stage biopharmaceutical company is developing a pipeline of regulatory RNA-targeting therapeutics designed to upregulate gene expression with the goal of restoring healthy protein levels to treat a broad range of genetic diseases,