Tenaya fundraising follows resolution of clinical hold

California-based Tenaya Therapeutics (Nasdaq: TNYA), a biotech seeking to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, has announced the pricing of a $60 million public offering.

The offering is comprised of 50,000,000 units at a public offering price of $1.20 per unit, with each unit consisting of one share of common stock and a warrant to purchase one share of common stock at an exercise price of $1.50 per share.

Proceeds from the offering will be used to fund the ongoing and planned development of Tenaya’s clinical and early-stage product candidates, particularly TN-201 and TN-401, and for working capital and other general corporate purposes.