An­oth­er RA-backed biotech hits Nas­daq as pub­lic mar­ket stirs again af­ter a bruis­ing first quar­ter

Cal­i­for­nia’s AN2 Ther­a­peu­tics has been on a roll re­cent­ly.

The lung dis­ease biotech raised $80 mil­lion in a Se­ries B back in Jan­u­ary, an­nounc­ing it in the com­pa­ny’s first press re­lease since its se­ries A round in 2019. At the time, big back­ers in­clud­ed RA Cap­i­tal Man­age­ment, a VC firm that’s shown a pen­chant for help­ing biotechs make quick jumps to the pub­lic mar­ket.

RA’s ag­gres­sive­ness came to a head Fri­day, when the com­pa­ny an­nounced it will be fol­low­ing through and mak­ing its Nas­daq de­but af­ter an­nounc­ing IPO plans ear­li­er this month. The biotech said in its state­ment that it will be of­fer­ing 4.6 mil­lion shares at $15 a share un­der the tick­er $AN­TX, rais­ing $69 mil­lion in the process. The price point came in at the mid­dle of AN2’s ex­pect­ed range af­ter it set terms of $14 to $16 per share last week.

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