IPOs channel feed

Swe­den's Cal­lid­i­tas seeks $75M IPO haul to bring its oral steroid to pa­tients with an or­phan kid­ney dis­ease

As biotech after biotech elicits enthusiastic investor support for this corner of the IPO market, a Swedish player is joining the Nasdaq line to fund the last leg of its clinical journey.

Calliditas Therapeutics is eyeing a $75 million raise, a modest sum compared to some of the bigger public debuts we’ve seen in recent days — but they could well upsize the offering like other small, obscure companies before them have done.

ADC steams back to vir­tu­al Wall Street — and this time the team scores a $233M IPO haul

ADC Therapeutics couldn’t quite complete the climb to a $200 million IPO last fall, when the market was cooking along at the end of a record-setting economic expansion. But 6 months later, with Wall Street locked down by the pandemic, the Swiss biotech cruised into the New York Stock Exchange and gathered a $233 million haul.

After initially shooting for a ballpark figure of $100 million, ADC upsized its offering — twice — to 12.2 million shares and sold them for $19 a share, a buck over the top of the range they had set. Insiders had indicated their appetite for about half of the sum raised overnight.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 83,100+ biopharma pros reading Endpoints daily — and it's free.

BC­MA ri­val to blue­bird, Bris­tol My­ers files for $100M IPO as the fron­trun­ners stum­ble in a race to the fin­ish line

On the same day that bluebird and Bristol Myers had to try and explain to analysts why their crucial application for the BCMA drug ide-cel (bb2121) was kicked back by the FDA in a stinging refuse-to-file notice, a top contender for leapfrogging them to the market was laying out a $100 million IPO and details of the rich, $1.7 billion deal with J&J that has been greasing the tracks of R&D and manufacturing.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 83,100+ biopharma pros reading Endpoints daily — and it's free.

With mon­ey flow­ing, Pli­ant Ther­a­peu­tics heads to pub­lic well

Fresh off raising a $100 million Series C and sending their second compound into the clinic, Pliant Therapeutics is headed for Wall Street.

The South San Francisco-based biotech filed this morning for an $86 million IPO. The money will help fund clinical development of their lead program for a rare lung disease and rare liver disease and boost preclinical research for oncology and muscular dystrophy.

Bob Langer-found­ed Lyra Ther­a­peu­tics rais­es $56M in lat­est high-end biotech IPO

Another pandemic biotech IPO has sold at the high range.

Lyra Therapeutics said today their public offering, first filed in early March, raised $56 million, with 3.5 million shares selling at $16. Although that was a price-per-share at the top of their $14 to $16 range, the offering remains just a hair short of the initial goal of a $57.5 million.

Founded around an implant developed by MIT’s Bob Langer and Harvard’s George Whitesides, Lyra is testing their lead candidate, LY-210, in a Phase II trial for chronic rhinosinusitis — a condition in which spaces inside the nose and sinuses are continually inflamed, causing breathing difficulty and a perpetually stuffy nose amid a long list of other symptoms. Originally developed for peripheral artery disease, the company’s implant is used to deliver the generic anti-inflammatory mometasone furoate directly to the affected muscles.

What does a post-pan­dem­ic IPO fil­ing look like? Hong Kong biotech ap­pli­ca­tion of­fers clues

As Covid-19 becomes a permanent fixture on securities documents, a new biotech IPO filing in Hong Kong has offered a glimpse of what the outlook is like on the other end of the tunnel.

Ocumension had just started a Phase III trial for its lead drug, a corticosteroid-releasing intravitreal implant in-licensed from EyePoint Pharmaceuticals, when the first cases of a mysterious pneumonia were reported in China.

Amid string of splashy pan­dem­ic IPOs, ADC re­turns for its mil­lions

Six months after withdrawing their bid for a massive IPO, ADC Therapeutics is back with a more conservative number: $100 million.

The Swiss biotech had swung from huge funding round to huge funding round before, with its lead program nearing a regulatory submission. It filed for a $200 million IPO in September. They evidently found few takers, though, as they withdrew the bid within two weeks of pricing.

Lantern Phar­ma charts course for IPO with AI plat­form that shines light on failed can­cer drugs

Artificial intelligence — the cure-all for the pesky process of making a therapeutic, including data mining, drug discovery, optimal drug delivery and addressable patient population — is being employed by yet another biotech: Lantern Pharma.

The company, which uses its AI platform to identify patients that could benefit from its targeted oncology therapies, on Thursday unveiled plans to make its public debut in an up to $29 million IPO.

Mer­ck-part­nered an­ti­body mak­er read­ies $300M IPO as HKEX picks up pace

Three weeks after InnoCare launched its IPO into the welcoming embrace of HKEX investors, Akesobio is looking to one-up the company with its own $300 million (HKD$2.34 billion) raise.

Partnered with Merck, Akesobio’s pitch centers around a suite of in-house technologies that it says generate superior antibodies against known targets such as PD-1, CTLA-4, IL-12 and IL-23. Having kicked off pre-marketing on Monday, it expects to make a public debut this month.

A small, ob­scure biotech just won big with their IPO. In this mar­ket. Are you kid­ding me?

How could a small, largely unknown biotech that emerged from stealth mode just months ago with early-stage cancer programs jump onto Wall Street in the middle of a Category 6 financial hurricane and sail through with a $165 million IPO?

And what does that mean for the rest of the industry waiting to see just how much damage global lockdowns will wreak on clinical development?

The biotech is a company called Zentalis. The crew there nabbed an $85 million crossover round late last year — notably waiting 5 years before waving the numbers around to attract attention, according to my read of a FierceBiotech story. Perceptive joined in, but the syndicate was not in general the kind of marquee affair that gets tongues wagging.

Endpoints Premium

Premium subscription required

Unlock this article along with other benefits by subscribing to one of our paid plans.