Obesity and diabetes biotech Carmot Therapeutics files for IPO
Carmot Therapeutics has filed to go public in a chilly environment for new listings, but the obesity biotech’s place in one of drug development’s hottest fields could buoy its chances of a successful IPO.
The Berkeley, CA-based biotech plans to debut on Nasdaq as $CRMO before year’s end, according to a Friday filing with the SEC.
The planned offering comes as industry insiders say they expect little IPO activity to close out the year. Instead, the sector is likely to see some companies pursuing reverse mergers, and others in wait-and-see until after the JP Morgan healthcare conference in early January
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