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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. BridgeBio Pharma

Palo Alto, California-based BridgeBio Pharma, Inc. is a clinical-stage biopharmaceutical company focused on genetic diseases.

Founded in 2015, the Company is scheduled to list its common stock on the Nasdaq Global Select Market under the symbol "BBIO." on June 27, 2019.

BridgeBio Pharma has offered to sell 15.0 million shares, and the initial public offering price is expected to be between $14.00 and $16.00 per share.

The Company has granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 2.25 million shares to cover over-allotments.

Underwriters of the IPO:

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Jefferies LLC, SVB Leerink LLC,KKR Capital Markets LLC,Piper Jaffray & Co., Mizuho Securities USA LLC, BMO Capital Markets Corp. and Raymond James & Associates, Inc.

Pipeline:

The Company's has four product candidates in clinical trials, and a couple of candidates in early stages of development.

-- BBP-265 that is in an ongoing Phase 3 clinical trial for the treatment of Transthyretin Amyloidosis Cardiomyopathy, dubbed ATTRibute-CM.

-- BBP-831/Infigratinib, a phase III-ready compound for the treatment of FGFR-driven cancers.

-- BBP-831/Infigratinib in preclinical development for the treatment of achondroplasia.

-- BBP-631, a preclinical adeno-associated virus, or AAV, gene transfer product candidate, for the treatment of Congenital Adrenal Hyperplasia.

-- BBP-454, a preclinical development program for small molecule inhibitors of KRAS
for the treatment of pan-mutant KRAS-driven cancers.


Near-term Catalysts:

-- A phase III trial of BBP-265 in Transthyretin Amyloid Polyneuropathy is expected
to be initiated this year.

-- Data from phase II open-label extension study of BBP-265 in Transthyretin Amyloidosis Cardiomyopathy is expected in 2019.

-- The first patient in phase III clinical trial of BBP-831 in advanced cholangiocarcinoma as a first-line therapy is anticipated to be enrolled this year.

-- A phase III clinical trial of BBP-831 in adjuvant urothelial carcinoma is expected to be initiated this year.

-- IND submission and initiation of phase I/II clinical trial of BBP-831 in Achondroplasia is expected in 2020.

2. Adaptive Biotechnologies

Adaptive Biotechnologies is a commercial-stage biotech company focused on immune-driven medicine.

Founded in 2009, the Company is scheduled to list its common stock on the Nasdaq Global Select Market under the symbol "ADPT" on June 27, 2019.

Seattle, Washington-based Adaptive Biotechnologies has offered to sell 12.5 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 1.875 million additional shares.

The initial public offering price per share is expected to be between $15.00 and $17.00.

Underwriters of the IPO:

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC,BofA Securities, Inc.Cowen and Company, LLC, Guggenheim Securities, LLC, William Blair & Company, L.L.C. and BTIG, LLC.


Products:

The Company's first clinical diagnostic product, clonoSEQ, is the first test authorized by the FDA for the detection and monitoring of minimal residual disease ("MRD") in patients with select blood cancers.

The Company has a collaboration with Genentech for the research, development, marketing, promotion, distribution and sale of TCR-based cellular therapies for the treatment of cancer.

Adaptive Bio's total revenue in 2018 was $55.66 million compared to $38.44 million in 2017.

3. Morphic Holding Inc.

Morphic Holding Inc. is a preclinical stage biopharmaceutical company developing oral
small-molecule integrin therapeutics for serious chronic diseases, including autoimmune,cardiovascular and metabolic diseases, fibrosis and cancer.

The Waltham, Massachusetts-based company has offered to sell 5.0 million shares in the offering. The initial public offering price is expected to be between $14.00 and $16.00 per share.

The Company has granted the underwriters an option for 30 days to purchase up to 750 thousand additional shares.

Morphic Holding is scheduled to list its common stock on The Nasdaq Global Market under the symbol "MORF" on June 27, 2019.

Underwriters of the IPO:

Jefferies LLC, Cowen and Company, LLC, BMO Capital Markets Corp. and Wells Fargo Securities, LLC.

Pipeline and Near-term Catalysts:

The Company's lead drug candidate is MORF-720, which is being developed in collaboration with AbbVie Inc., for the treatment of idiopathic pulmonary fibrosis.
An Investigational New Drug application for MORF-720 is expected to be filed as early as the end of 2019.

4. Karuna Therapeutics, Inc.

Karuna Therapeutics Inc. is a clinical-stage pharmaceutical company developing novel therapies to address disabling neuropsychiatric conditions.

Boston, Massachusetts-based Karuna Therapeutics has offered to sell 4.375 million shares in the offering. 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 for 30 days to purchase up to 656 thousand additional shares.

Founded in 2009, the Company is scheduled to list its common stock on The Nasdaq Global Market under the symbol "KRTX" on June 28, 2019.

Pipeline & Near-term Catalysts:


The Company is advancing a pipeline of therapeutic programs to address the positive, negative and cognitive symptoms associated with schizophrenia and psychosis associated with Alzheimer's disease, as well as various forms of pain.

-- The Company's lead product candidate is KarXT, currently in Phase 2 clinical trial for the treatment of acute psychosis in patients with schizophrenia, with topline results expected in late 2019.

-- A phase Ib clinical trial of KarXT for the treatment of the cognitive symptoms of schizophrenia is expected to be initiated in the first half of 2020.

-- A phase 1b clinical trial of KarXT for the treatment of the negative symptoms of schizophrenia is expected to be initiated in the first half of 2020.

-- A phase 1b clinical trial of KarXT in psychosis associated with Alzheimer's is expected to be initiated in the second half of this year.

-- A phase Ib clinical trial of KarXT for the treatment of experimentally induced pain in health volunteers is expected to be initiated in the second half of 2019.

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