Morn­ing­side spawned Stealth Bio’s IPO stum­bles out of the gate, rais­ing $78M

Stealth Bio may be re­think­ing its low-pro­file ap­proach to an IPO.

The com­pa­ny just launched its ini­tial of­fer­ing, pric­ing 6.5 mil­lion shares for $MI­TO at $12 — the low end of the range — and rais­ing $78 mil­lion for its work on a pipeline of drugs fo­cused on mi­to­chon­dr­i­al dis­eases af­ter ap­ply­ing for an IPO in Hong Kong that nev­er ma­te­ri­al­ized. 

Morn­ing­side vet­er­an Ree­nie Mc­Carthy — a lawyer by train­ing — is in charge of the en­ter­prise while Mark Bam­berg­er, a for­mer car­dio and meta­bol­ic re­search chief at Pfiz­er, is CSO.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.