Tenaya Therapeutics, Inc. (NASDAQ:TNYA) stock is trading lower on Friday, with a session volume of 42.39 million compared to the average volume of 3.51 million as per data from Benzinga Pro.

• Tenaya Therapeutics stock is feeling bearish pressure. What’s pressuring TNYA stock?

On Thursday, Tenaya Therapeutics priced its underwritten public offering of 50 million units at $1.20 per unit for gross proceeds of $60 million. 

Each unit consists of one share and a warrant to purchase one share of common stock at an exercise price of $1.50 per share.

Tenaya will use the proceeds to fund the ongoing and planned development of its clinical and early-stage product candidates, particularly TN-201 and TN-401, and for working capital and other general ...