OvaScience (NSDQ:OVAS) said today it is opened a new offering of stock as it looks to expand its Augment treatment in Japan and Canada and support pre-commercial activities for its OvaPrime and OvaTure treatments.
OvaScience’s Augment fertility treatment is designed to enhance in vitro fertilization by improving the health of a woman`s eggs, the company said. The treatment draws on energy-producing mitochondria from a woman`s own immature egg cells found in the protective lining of the ovaries to supplement existing mitochondria in the eggs.
The offering is slated to include an 30-day underwriters option for the purchase of additional shares, though the company has not yet announced the amount of shares it will offer or the price of those shares.
Shares in Waltham, Mass.-based OvaScience closed up 7% yesterday at $9.78.
In addition to funding expansion in Japan and Canada and OvaPrime and OvaTure treatments, funds from the round will also support working capital and other general corporate purposes, according to a press release.
Leerink Partners will act as sole book-runner for the offering, with H.C. Wainwright & Co. acting as co-manager.