Kaleido prices $75M IPO well below range; Sage raises $575M ahead of FDA decision
→ Kaleido Biosciences has raised $75 million to develop its microbiome metabolic therapies in a downsized IPO. The final going price for the 5,000,000 shares was $15 each, falling short of the $20-$22 range CEO Alison Lawton had previously planned, which would have translated into $100 million.
Trading under the symbol $KLDO, the biotech now plans to begin two Phase II hyperammonemia programs and continue working on other treatments targeting multidrug resistant bacteria, atherosclerotic cardiovascular disease and chronic kidney disease, though those programs will presumably get a smaller chunk of funding than intended.
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