Benitec Biopharma Inc. develops clinical-stage genetic medicines based on its proprietary Silence and Replace DNA-directed RNA interference platform. The company’s lead program, BB-301, is a silence-and-replace therapeutic in development for dysphagia in patients with Oculopharyngeal Muscular Dystrophy, or OPMD.
Company news primarily covers BB-301 clinical development, including Phase 1b/2a study updates, follow-up data from treated cohorts, safety and clinical-activity observations, and presentations at gene therapy and muscular dystrophy medical meetings. Benitec also issues periodic financial results and operational updates tied to its development-stage biotechnology business.
Benitec Biopharma (NASDAQ: BNTC) announced the successful closure of a public offering comprising 3,225,806 shares at $3.10 each, raising approximately $11.5 million in gross proceeds. The underwriter has fully exercised its option to purchase an additional 483,870 shares. These funds will be utilized for advancing development activities within its product pipeline, general corporate purposes, and strategic growth opportunities. The offering details were declared effective by the SEC on October 2, 2020.
Benitec Biopharma (NASDAQ: BNTC) announced a public offering of 3,225,806 shares at $3.10 each, expecting gross proceeds of approximately $10 million. The offering is set to close around October 6, 2020 and includes a 30-day option for underwriters to purchase an additional 483,870 shares. Funds will advance the company's product pipeline and support strategic growth. Recently, the SEC declared the related registration statement effective.
Benitec Biopharma Inc. (NASDAQ: BNTC) reported a significant decline in total revenues for FY 2020, totaling $102,000 compared to $12.2 million in FY 2019, primarily due to the termination of the Axovant Sciences Agreement. Net loss increased to $8.27 million, or $8.10 per share, compared to a profit of $2.6 million in 2019. The company concluded the fiscal year with $9.8 million in cash. Despite these challenges, Benitec is optimistic about the ongoing development of its BB-301 program for Oculopharyngeal Muscular Dystrophy, having initiated pivotal studies in 2020.
On September 1, 2020, Benitec Biopharma (NASDAQ: BNTC), a biotechnology company focusing on gene therapy, announced that its CEO, Jerel A. Banks, M.D., Ph.D., will present at the H.C. Wainwright 22nd Annual Global Investment Conference. The presentation is scheduled for September 16, 2020, at 11:30 A.M. EDT. It will be available via webcast, with a link provided for registration. Benitec is developing ddRNAi-based therapies for serious conditions like Chronic Hepatitis B and Oculopharyngeal Muscular Dystrophy. For more details, visit Benitec's investor relations site.