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Biotech IPOs For The Week Ahead

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In the healthcare sector, 1 company made its stock market debut in January, 12 in February, and 3 companies went to public in March.

Now, let's take a look at the U.S. biotech IPO schedule for the first week of April.

1. NGM Biopharmaceuticals Inc.

The South San Francisco, California based NGM Biopharmaceuticals is a clinical-stage biopharmaceutical company developing novel therapeutics for cardio-metabolic, liver, oncologic, and ophthalmic diseases.

The company has research collaboration, product development, and license agreements with Merck Sharp & Dohme Corp., MedImmune Limited, and JDRF International.

The company has offered to sell 6.67 million shares of common stock in the offering, and the underwriters have an option for 30 days to purchase up to 1 million additional shares. The initial public offering price is expected to be between $14.00 and $16.00 per share.

The company, which was founded in 2007, plans to list its stock on the Nasdaq Global Select Market under the symbol "NGM" on April 4, 2019.

Underwriters of the IPO:

Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Cowen and Company, LLC

Pipeline:

The company has seven product candidates, five of which are in clinical testing.

-- The most advanced product candidate, NGM282, is in phase II development for non-alcoholic steatohepatitis (NASH).

-- NGM313 for use in the treatment of type 2 diabetes and NASH is under phase Ib study.

-- NGM386, licensed to Merck, is in a phase I study in overweight or obese but otherwise healthy adults.

-- NGM120, designed to inhibit the effects of elevated GDF15 levels on cancer anorexia/cachexia syndrome, or CACS, and possibly, cancer, is currently being evaluated in healthy volunteers in a phase I clinical trial. Merck has a one-time option to license NGM120 upon our completion of a proof-of-concept study in humans.

-- NGM217, in a phase I study in adults with diabetes.

-- NGM621 for the treatment of patients with geographic atrophy, or GA, an advanced form of dry AMD, is preclinical testing.

-- NGM395 for obesity is in preclinical testing. This compound is also being developed with Merck.

On March 1, 2019, Merck notified its intent to terminate its license to GDF15 receptor agonist program, which includes NGM386 and NGM395, effective May 31, 2019. Upon termination, the company will regain full rights to the GDF15 receptor agonist program, which includes NGM386 and NGM395.


Near-term Catalysts:

- Interim data from the phase II trial of NGM282 for the treatment of NASH is expected in the second half of 2019.

-- Advance NGM120 into a phase Ib clinical trial in cancer patients with CACS in the first half of 2019.

-- Move NGM621 into a phase I study in patients with geographic atrophy in the second half of 2019.

2. Silk Road Medical Inc.

Sunnyvale, California-based Silk Road Medical Inc. is a commercial-stage medical device company focused on reducing the risk of stroke and its devastating impact.

The company's proprietary approach to treat carotid artery disease is called transcarotid artery revascularization or TCAR.

Silk Road Medical is scheduled to list its IPO on the Nasdaq Global Select Market, under the symbol "SILK", on April 4, 2019.

The company has offered to sell 4.69 million shares in the offering - with the initial public offering price expected to be between $15.00 and $17.00 per share.

The underwriters have an option for 30 days to purchase up to 703,125 additional shares.


Underwriters of the IPO:

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc, BMO Capital Markets Corp. and Stifel Nicolaus & Company, Inc

Marketed Products:

FDA-cleared ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal.

FDA-approved ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent with clinical data regarding lasting safety outcomes.

ENHANCE Transcarotid Peripheral Access Kit for use to gain initial access to the common carotid artery.

ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.

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