Four More Through the IPO Door as Life Science Firms Raise $465M


2019-06-21 21:11:00 Xconomy


It’s been a strong year for biotech IPOs and Wednesday shaped up to be a particularly busy day as four life science firms debuted on the public markets. So far this year, 72 companies have gone public, according to IPO research firm Renaissance Capital. That total is down 20 percent compared to the same period a year ago. But healthcare IPOs continue to lead the pack, with 33 companies going public—the most of any sector. Here’s a recap of Wednesday evening’s life science IPO activity. —Personalis led the way with an upsized IPO that raised $134 million. The Menlo Park, CA, company sold approximately 7.9 million shares priced at $17 apiece. Personalis had previously planned to sell 6.7 million in the range of $14 to $16 each. Those shares are expected to start trading on the Nasdaq later today under the stock symbol “PSNL.” Personalis has commercialized a genome sequencing and analysis platform called NeXT that scientists can use to understand the cancer and immune response of a patient. Personalis is not developing its own drugs but instead works with pharmaceutical companies that use NeXT to aid their own drug discovery and development work. In 2018, Personalis reported a $19.8 million loss on $37.7 million in revenue, according to its IPO filing. Personalis says the IPO proceeds will fund a facilities expansion, sales and marketing, and research and development. Next up in the Personalis pipeline is a liquid biopsy test that the company expects to launch in 2020. —Akero Therapeutics raised approximately $92 million from its IPO. The South San Francisco-based company sold approximately 5.7 million shares at $16 apiece, which was the high end of its targeted $14 to $16 per share range. Akero’s shares are expected to start trading on the Nasdaq later today under the stock symbol “AKRO.” Akero licensed its lead drug, AKR-001, from Amgen (NASDAQ: AMGN). The biotech has advanced the drug to Phase 2a testing as a potential treatment for the liver disease nonalcoholic steatohepatitis, a type of fatty liver disease that has no FDA-approved therapy. Akero says in its prospectus that it plans to use $65 million of the IPO cash to complete the mid-stage study. The company also plans to spend approximately $10 million for research and development that includes potential applications of AKR-001 in other diseases. —Prevail Therapeutics, a gene therapy developer, raised $125 million in its stock market debut. The New York company priced its offering of approximately 7.3 million shares at $17 apiece, which was the midpoint of its targeted range. Prevail’s shares are expected to begin trading on the Nasdaq Thursday under the stock symbol “PRVL.” Prevail is developing gene therapies to treat neurodegenerative disorders. The company’s lead program, PR001, is an experimental treatment for Parkinson’s disease. Prevail says in its prospectus that it will use $50 million to $60 million of the IPO proceeds to advance PR001 to a Phase 1/2 study enrolling Parkinson’s patients who have a particular genetic mutation. The company also plans to test the drug as a treatment for the neurological effects of Gaucher disease, an inherited enzyme deficiency. —Atreca’s IPO raised $113.8 million. The Redwood City, CA, company sold approximately 7.3 million shares for $17 apiece, which was the midpoint of the price range it had targeted. Atreca’s shares are expected to begin trading on the Nasdaq Thursday under the stock symbol “BCEL.” Atreca says in its IPO filing that its proprietary technology uses the immune system to guide its discovery of pairs of antibodies and their targets. After the company spun out of Stanford University in 2010, its initial research was in vaccine development. The company is now focused on developing cancer immunotherapies. Atreca says it will use $45 million of the IPO cash to finance a Phase 1b study testing its lead drug, ATRC-101. The company says the drug could treat a range of solid tumors. Another $65 million is earmarked for discovering and developing other drugs. —The biotech IPO activity for this week is not yet over. Skin drugs developer Dermavant Sciences is expected to price its IPO later today. When the London company set its IPO terms last week, it said it planned to sell 7.7 million shares in the price range of $12 to $14 each. At the midpoint of that range, Dermavant would raise approximately $100 million. Dermavant is a portfolio company of Roivant Sciences, a firm that licenses compounds that large pharmaceutical companies have shelved. Dermavant’s lead drug candidate, tapinarof, came from GlaxoSmithKline (NYSE: GSK), where it was developed as a treatment for psoriasis and atopic dermatitis. In its IPO filing, Dermavant says it will use between $45 million and $55 million to fund two ongoing Phase 3 studies testing tapinarof in psoriasis. The IPO will also finance clinical studies for other drugs in the Dermavant pipeline.
这是生物科技公司 IPO 表现强劲的一年,随着四家生命科学公司在公开市场上市,周三将成为一个特别繁忙的日子。 根据 IPO 研究公司 Renaissance Capital 的数据,今年迄今已有72家公司上市。与去年同期相比,这一数字下降了20%。但医疗行业的 IPO 仍处于领先地位,有33家公司上市,这是所有行业中最多的。这是对周三晚间生命科学 IPO 活动的总结。 —个性化引领了一次大规模 IPO ,筹集了1.34亿美元。该公司以每股17美元的价格出售了约790万股股票。佩蒂斯此前曾计划以每股14至16美元的价格出售670万美元。预计这些股票将于今日晚些时候在纳斯达克开始交易,交易代码为“ PSNL ”。 Permis 已经将一个名为 NeXT 的基因组测序和分析平台商业化,科学家可以用它来理解病人的癌症和免疫反应。Permis 不是在开发自己的药物,而是与使用 NeXT 来帮助自己的药物发现和开发工作的制药公司合作。 根据其首次公开发行( IPO )申报文件,2018年, Personis 的收入为3,770万美元,亏损1,980万美元。佩蒂斯说, IPO 所得将用于设施扩建、销售和营销以及研发。接下来在 Permis 管道中进行的是液体活检测试,该公司预计将于2020年推出。 —— Akero Therapeutics 通过 IPO 募集了约9200万美元。这家总部位于旧金山的公司以每股16美元的价格出售了约570万股股票,这是其每股14至16美元目标区间的高端。预计 Akero 的股票将于今天晚些时候在纳斯达克开始交易,股票代码为“ AKRO ”。 Akero 从安进(Amgen)公司( NASDAQ : AMGN )获得了其主要药物 AKR-001的许可。生物技术公司已经将该药物推进到2a 期检测,作为一种潜在的治疗肝病非酒精性脂肪性肝炎,一种没有 FDA 批准的治疗方法的脂肪性肝病。Akero 在其招股书中表示,该公司计划使用6,500万美元的 IPO 现金完成中期研究。公司还计划投入约1000万美元用于研发,其中包括 AKR-001在其他疾病中的潜在应用。 ——基因治疗开发公司 Prefail Therapeutics 在其股票市场首次公开募股时筹集了1.25亿美元。这家纽约公司以每股17美元的价格发行了大约730万股股票,这是其目标区间的中间点。Preference 的股票预计将于周四在纳斯达克开始交易,交易代码为“ PRVL ”。 前言是发展基因疗法治疗神经退行性疾病。该公司的主导项目 PR001是帕金森病的实验治疗。Preference 在其招股书中表示,它将利用5000万至6000万美元的 IPO 募集资金,推动 PR001进入1/2阶段的研究,招募有特定基因突变的帕金森患者。该公司还计划将该药物作为一种治疗高歇病(一种遗传性酶缺乏症)神经效应的药物进行试验。 — Atrect 的 IPO 募集了1.138亿美元。这家位于加州红木城的公司以每股17美元的价格出售了大约730万股股票,这是该公司瞄准的价格区间的中间点。预计 Atrect 的股票将于周四在纳斯达克开始交易,交易代码为“ BCEL ”。 Atrec 在其 IPO 申请文件中表示,其专有技术利用免疫系统来指导其抗体对的发现及其目标。2010年,该公司从斯坦福大学( Stanford University )分拆出来后,最初的研究是疫苗研发。该公司现在致力于开发癌症免疫疗法。Atrec 说,它将使用4,500万美元的 IPO 资金,资助一项1b 期试验其先导药物 ATRC-101的研究。该公司表示,这种药物可以治疗多种实体瘤。另有6500万美元指定用于发现和开发其他药物。 —本周生物科技公司的 IPO 活动尚未结束。皮肤药物开发商 DermatvantSciences 预计将在今天晚些时候为其 IPO 定价。上周,当这家伦敦公司设定 IPO 条款时,该公司表示,计划以每股12至14美元的价格出售770万股股票。在这一范围的中点, Dermavant 将筹集约1亿美元。 Dermavant 是 Roivant Sciences 的投资组合公司,一家许可大型制药公司搁置的化合物的公司。Dermavant 的主要候选药物 tapinarium 来自葛兰素史克( GlaxoSmithKline , NYSE :葛兰素史克(GSK)),在那里它被开发成治疗牛皮癣和特应性皮炎的药物。Dermavant 在其首次公开发行( IPO )文件中表示,将使用4500万至5500万美元,为正在进行的银屑病第三阶段试验提供资金。此次 IPO 还将为 Dermatant 管道中的其他药物的临床研究提供资金。