Morphic Therapeutic Announces Closing of Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares

WALTHAM, Mass., May 05, 2023 (GLOBE NEWSWIRE) -- Morphic Holding, Inc. ("Morphic"), a biopharmaceutical company developing a portfolio of oral integrin therapies for the treatment of serious chronic diseases, today announced the closing of an underwritten public offering of 6,133,334 shares of its common stock at a price to the public of $45.00 per share, which includes 800,000 shares sold upon full exercise of the underwriters' option to purchase additional shares of common stock. Morphic received gross proceeds of approximately $276.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

Jefferies, TD Cowen, BMO Capital Markets, RBC Capital Markets and Wells Fargo Securities acted as joint book-runners for the offering.

The shares are being offered by Morphic pursuant to a registration statement on Form S-3ASR previously filed with the Securities and Exchange Commission (the "SEC"), which became automatically effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to this offering have been filed with the SEC. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering, and when available, the final prospectus supplement, may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at 877-547-6340 or by email at [email protected]; or Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by email [email protected] or by telephone at (833) 297-2926; or BMO Capital Markets Corp. at 151 W 42nd Street, 32nd Floor, New York, NY 10036, Attention: Equity Syndicate Department, by telephone at (800) 414-3627 or by email to [email protected]; or RBC Capital Markets, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089 or by email at [email protected]; or Wells Fargo Securities, LLC, Attention Equity Syndicate Department, 500 West 33rd Street, New York, NY 10001, by telephone at (833) 690-2713, or by email at [email protected]. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Morphic, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Morphic Therapeutic

Morphic Therapeutic is a biopharmaceutical company developing a portfolio of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular, and metabolic diseases, fibrosis, and cancer. Morphic is advancing its pipeline and discovery activities using its proprietary MInT technology platform which leverages the Company's unique understanding of integrin structure and biology.

Contacts

Morphic Therapeutic

Chris Erdman

[email protected]

617.686.1718