Benitec Biopharma Inc. Reports on Recent Stockholder Activity

Benitec Biopharma Inc. (NASDAQ: BNTC) recently announced in an 8-K filing with the Securities and Exchange Commission that on October 8, 2024, Suvretta Capital Management, LLC waived the 19.99% beneficial ownership limitation contained in warrants held by the Suvretta Funds. The company disclosed that following stockholder approval, Suvretta Capital established a new beneficial ownership limitation of 49.9% for the exercise of the warrants.

As a result of this agreement, the Suvretta Funds exercised a total of 7,137,763 shares of common stock through the exercise of various warrants. This included 588,236 Series 2 warrants issued in September 2022, 5,181,347 warrants issued in August 2023, and 1,368,180 pre-funded warrants. The exercises generated proceeds of approximately $21,135,373 for the company.

Following these warrant exercises, as of October 8, 2024, Benitec Biopharma Inc. has a total of 17,893,765 outstanding shares of common stock. The company attached a copy of the letter agreement with Suvretta Capital Management, LLC as Exhibit 99.1 to the filing.

In the financial statements and exhibits section, the company listed the letter agreement between the company and Suvretta Capital Management, LLC dated September 26, 2024, as well as the Cover Page Interactive Data File embedded within the Inline XBRL document as exhibits.

Jerel A. Banks, Chief Executive Officer of Benitec Biopharma Inc., signed off the report on behalf of the company on October 8, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Benitec Biopharma’s 8K filing here.

Benitec Biopharma Company Profile

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.