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Biotech IPO For The Week Ahead

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We are just one week into the fourth quarter of the year. The week that just wrapped up saw 3 biotech companies making their public debut, and one company, ADC Therapeutics, withdrawing its IPO filing, citing adverse market conditions.

Let's take a look at the U.S. IPO schedule for the week ahead.

1. Vir Biotechnology

San Francisco, California-based Vir Biotechnology is a clinical-stage immunology company developing antibody-based treatment candidates to treat hepatitis serious infectious diseases.

Founded in 2016, the company has planned to list its IPO on the Nasdaq Global Select Market, under the symbol "VIR", on October 11, 2019.

Vir Biotechnology has offered to sell 7.14 million shares of its common stock in the offering, and granted the underwriters an option for 30 days to purchase up to 1.07 million additional shares of common stock.

The initial public offering price is expected to be between $20 and $22 per share.

Underwriters of the IPO:

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Cowen and Company, LLC, Barclays Capital Inc.

Pipeline and Near-term Catalysts:

Vir Biotechnology has developed four technology platforms that focus on antibodies, T-cells, innate immunity and small interfering ribonucleic acid-based (siRNA).

The clinical drug candidates include VIR-2218 and VIR-2482.

- VIR-2218 is a subcutaneously administered HBV-targeting siRNA that is currently in a Phase 1/2 clinical trial for patients with hepatitis B virus (HBV).

- VIR-2482 is in a Phase 1/2 clinical trial for the prevention of influenza A, with clinical data expected to be available in the second half of 2020.

The compounds in preclinical testing are:

-- VIR-3434, a subcutaneously administered HBV-neutralizing mAb for which the company plans to submit a Clinical Trial Application in the first half of 2020 and thereafter commence a Phase 1 clinical trial.

-- VIR-1111, a subcutaneously administered HIV T cell vaccine based on human cytomegalovirus, or HCMV. An IND for this compound is expected to be submitted in the first half of 2020, followed by the commencement of a Phase 1 trial.

-- VIR-2020 is a subcutaneously administered TB T cell vaccine based on HCMV for which we plan to submit an IND in the first half of 2021 and thereafter commence a Phase 1 clinical trial.

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