uniQure instigates $200 million proposed public offering

US traded shares of Dutch biotech uniQure (Nasdaq: QURE) skyrocketed 247% to $47.5 yesterday as the company announced that it has commenced a $200 million underwritten public offering of its ordinary shares and, in lieu of ordinary shares to certain investors, pre-funded warrants to purchase its ordinary shares.

However, the share activity was mainly prompted by uniQure’s release of extremely encouraging three-year data for its Huntington’s gene therapy AMT-130, leading to analysts raising price targets.

All securities to be sold in the offering will be offered by uniQure. In addition, uniQure intends to grant the underwriters a 30-day option to purchase up to a number of additional ordinary shares equal to 15% of the total number of ordinary shares (and ordinary shares underlying pre-funded warrants) sold in the public offering, on the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.