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This Week's Biotech IPOs

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In the healthcare sector, 2 companies made their debut on the NASDAQ last week, i.e., Kodiak Sciences Inc. (KOD) on October 4, at a price of $10 per share, and Guardant Health Inc. (GH), also on the same day, at a price of $19 per share.

Now, let's take a look at the U.S. biotech IPO calendar of this week.

1. Allogene Therapeutics Inc.

Allogene Therapeutics is a clinical stage immuno-oncology company developing genetically engineered allogeneic T cell therapies for the treatment of cancer.

The Company is scheduled to list its IPO on the Nasdaq Global Select Market, under the symbol "ALLO", on October 11.

Allogene has offered to sell 16 million shares of its common stock in the offering, and the underwriters have an option for a period of 30 days to purchase up to 2.4 million additional shares of common stock.

The initial public offering price is expected to be between $16 and $18 per share.

Underwriters of the IPO:

Goldman Sachs & Co. LLC, J.P. Morgan, Cowen and Jefferies.

Pipeline:

The Company's lead product candidate is UCART19, a CAR T cell product, being developed in collaboration with French pharmaceutical company Servier.

UCART19 is under two phase I trials - in adult patients with relapsed or refractory (R/R) B-cell precursor acute lymphoblastic leukemia (ALL), dubbed CALM, and in pediatric patients with relapsed or refractory (R/R) B-cell precursor acute lymphoblastic leukemia, known as PALL.

ALLO-501, for the treatment of patients with R/R NHL, ALLO-715, for the treatment of patients with R/R multiple myeloma, and ALLO-647, which is designed to be used prior to infusing other product candidates as part of the lymphodepletion regimen, all of which are in preclinical testing are the other product candidates in the pipeline.

Near-term Catalyst:

The Company expects to advance UCART19 to potential registrational trials in the second half of 2019.

2. Osmotica Pharmaceuticals plc

Osmotica Pharma is an integrated biopharmaceutical company with a diversified product portfolio catering to specialty neurology and women's health space. The Company recorded total revenue of $245.7 million in 2017.

The Company is scheduled to list its IPO on the Nasdaq Global Market, under the symbol "OSMT", on October 11.

Osmotica Pharma has offered to sell 8.3 million shares of its common stock in the offering, and the underwriters have an option for a period of 30 days to purchase up to 1.25 million additional shares of common stock.

The initial public offering price is expected to be between $14 and $16 per share.

Underwriters of the IPO:

Jefferies, Barclays and RBC Capital Markets.

Portfolio & Pipeline:

The Company currently markets five products namely, M-72, Lorzone and ConZip in specialty neurology; and OB Complete, a family of prescription prenatal dietary supplements, and Divigel in women's health.

In the pipeline are two phase III product candidates - Ontinua ER for muscle spasticity in multiple sclerosis patients, and RVL-1201 for droopy eyelid.

Near-term Catalyst:

Osmolex ER, an oral treatment for Parkinson's disease, which was approved by the FDA on February 16, 2018, is expected to be launched this year.

3. Equillium Inc.

Equillium is a biotechnology company developing products for severe autoimmune and inflammatory, or immuno-inflammatory, disorders with high unmet medical need.

The Company is scheduled to list its IPO on the Nasdaq Global Market, under the symbol "EQ", on October 12.

Equillium has offered to sell 4.67 million shares of its common stock in the offering, and the underwriters have an option for a period of 30 days to purchase up to 700,500 additional shares of common stock.

The initial public offering price is expected to be between $14 and $16 per share.

Underwriters of the IPO:

Jefferies, Leerink Partners, and Stifel.

Pipeline:

The Company's lead drug candidate is EQ001 with the potential for the treatment of acute graft-versus-host disease (aGVHD), chronic graft-versus-host disease (cGVHD), severe asthma and at least one additional indication.

Near-term Catalysts:

-- Initiate a phase Ib/II clinical trial of EQ001 in patients with aGVHD in early 2019.
-- Initiate a phase II clinical trial of EQ001 in patients with cGVHD in the first half of 2019.
-- Initiate a proof-of-concept clinical trial of EQ001 in severe asthma in the first half of 2019.
-- Select a fourth indication for EQ001 in the first half of 2019.

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