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Biotech IPOs For The Week Ahead

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As another week comes to a close, let's take a look at the biotech companies that are going public in the week ahead.

1. IDEAYA Biosciences

IDEAYA Biosciences Inc. is an oncology-focused precision medicine company developing targeted therapeutics for patient populations selected using molecular diagnostics.

The company has offered to sell 5.00 million shares in the offering - with the initial public offering price expected to between $13.00 and $15.00 per share. The underwriters have a 30-day option to purchase up to 750,000 additional shares.

Founded in 2015, IDEAYA Biosciences is scheduled to list its stock on the Nasdaq Global Market, under the symbol "IDYA", on May 23, 2019.

Underwriters of the IPO:

J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Jefferies LLC.

Pipeline and Near-term Catalysts:

The lead product candidate is IDE196, a protein kinase C (PKC) inhibitor, for the treatment of cancers with GNAQ and GNA11 mutations.

Ideaya has a global licensing deal with Novartis for the development of IDE196.

IDE196 is currently in a phase I clinical study in patients with metastatic uveal melanoma. The Company expects to initiate a phase I/II tissue-type agnostic basket trial in the second or third quarter of this year to evaluate IDE196 in patients with solid tumors harboring GNAQ/11 mutations or PKC fusions, including, but not limited to, metastatic uveal melanoma (UM), cutaneous melanoma, and colorectal cancer.

2. Bicycle Therapeutics

Bicycle Therapeutics, based in Cambridge, United Kingdom, is a clinical-stage biopharmaceutical company developing a brand new class of small, chemically synthesized medicines called Bicycles.

Founded in 2009, the Company is scheduled to list the ADSs on the Nasdaq Global Market under the symbol "BCYC", on May 23, 2019.

Bicycle Therapeutics has offered to sell 4.33 million American Depositary Shares, or the ADSs, in the offering, and the underwriters have an option for a period of 30 days to purchase up to 650,000 additional ADSs.

The initial public offering price per ADS is expected to be between $14.00 and $16.00.

Underwriters of the IPO:

Goldman Sachs & Co. LLC, Jefferies LLC, Piper Jaffray & Co. and Canaccord Genuity.

Pipeline and Near-term Catalysts:

The lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease or MT1-MMP . Preliminary data from the Phase I part of this clinical trial is expected in the second half of 2019.

Also in the pipeline are BT5528, BT8009, and CD137 for the treatment of cancer, all of which are under preclinical testing stage.

The company has research collaborations with Bioverativ Inc., AstraZeneca AB, and Oxurion NV.

3. Peloton Therapeutics

Peloton Therapeutics, formerly known as Damascus Pharmaceutics, Inc. is a clinical stage biopharmaceutical company developing medicines for patients with cancer and other debilitating or life-threatening conditions.

Founded in 2010, the company is scheduled to list its common stock on the Nasdaq Global Select Market under the symbol "PLTX." on May 23, 2019.

Dallas, Texas-based Peloton Therapeutics has offered to sell 9.375 million shares, and the initial public offering price is expected to be between $15.00 and $17.00 per share.

The company has granted the underwriters an option, exercisable for 30 days, to purchase up to additional 1.41 million shares to cover over-allotments.

Underwriters of the IPO:

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Jefferies LLC.

Pipeline and Near-term Catalysts:

The company's lead drug candidate is PT2977, an oral HIF-2a inhibitor, which is expected to enter into phase III trial in patients with advanced or metastatic clear cell renal cell carcinoma in the second half of 2019.

PT2977 is also being tested in Phase 2 clinical trials in von Hippel-Lindau disease associated renal cell carcinoma; in a phase II clinical trial in combination with abozantinib in earlier lines of therapy for metastatic renal cell carcinoma; Phase 1/2 dose-escalation and dose-expansion clinical trials in patients with mRCC; and Phase 1/2 clinical trial in glioblastoma multiforme.

Another compound in the pipeline is PT2567, which is in preclinical development for pulmonary arterial hypertension.

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