By Colin Kellaher

Shares of Taysha Gene Therapies Inc. surged more than 45% in premarket trading Tuesday after Japan's Astellas Pharma Inc. agreed to invest $50 million for a 15% stake, supporting the advancement of Taysha's gene-therapy development programs.

Dallas-based Taysha said it is granting Astellas an exclusive option to license two clinical-stage programs for rare monogenic central-nervous-system diseases: TSHA-102 for Rett syndrome and TSHA-120 for giant axonal neuropathy.

Taysha, which reported cash and equivalents of $66.2 million as of June 30, said it also granted Astellas certain rights related to any potential change of control.

Taysha shares, which closed Monday at $1.51, were recently up nearly 46% to $2.20 in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 25, 2022 06:11 ET (10:11 GMT)

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