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Healthcare IPOs For June 26

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The IPO activity in the U.S. pharma/biotech sector has had a strong showing in the month of June, with 14 listings so far. Now, let's take a look at the biotech IPOs scheduled for Friday, June 26, 2020.

1. Akouos Inc.

Boston, Massachusetts-based Akouos is a precision genetic medicine company developing adeno-associated virus, or AAV delivered gene therapies for various hearing loss conditions.

The company is scheduled to list its IPO on the Nasdaq Global Select Market under the symbol "AKUS" on June 26, 2020.

Akouos has offered to sell 8.33 million shares of common stock in the offering, and the underwriters have an option for 30 days to purchase up to 1.25 million additional shares.

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

Underwriters of the IPO:

BofA Securities, Inc., Cowen and Company, LLC, BTIG, LLC, Piper Sandler & Co.

Pipeline and Near-term Catalysts:

The company's lead gene therapy candidate, AK-OTOF, is in the preclinical development for the treatment of hearing loss due to mutations in the OTOF gene.

An investigation new drug application seeking regulatory approval to advance AK-OTOF in clinical testing is expected to be submitted to the FDA in 2021.

The other products in preclinical development /discovery stage are:

-- CLRN1 for Usher Type 3A, an autosomal recessive disorder characterized by progressive loss of both hearing and vision.

-- GJB2 for a common form of monogenic deafness and hearing loss.

-- Anti-VEGF, an inhibitor of vascular endothelial growth factor, or VEGF, a protein that can cause abnormal blood vessel growth, for the treatment of vestibular schwannoma, a tumor of the auditory vestibular nerve.


2. Fusion Pharmaceuticals Inc.

Canada- based Fusion Pharmaceuticals is a clinical-stage oncology company developing next-generation radiopharmaceuticals as precision medicines based on its proprietary platform called Targeted Alpha Therapies (TAT) together with its proprietary Fast-Clear linker technology.

Fusion Pharma has offered to sell 8.35 million shares of common stock in the offering, and the underwriters have an option for 30 days to purchase up to 1.25 million additional shares.

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

The company is scheduled to list its IPO on the Nasdaq Global Select Market under the symbol "FUSN" on June 26, 2020.

Pipeline:

--The company's lead candidate, FPI-1434, being tested as a monotherapy in a Phase 1 trial for the treatment of solid tumors expressing IGF-1R (Insulin-like Growth Factor - 1 Receptor).

FPI-1434 is also being explored in combination with checkpoint inhibitors and DNA damage response inhibitors or DDRIs, such as poly (ADP-ribose) polymerase, or PARP, inhibitors for the treatment of solid tumors.

--Next up is FPI-1966, in preclinical development, for the treatment of head and neck and bladder cancers expressing fibroblast growth factor receptor 3, or FGFR3.

Near-term Catalysts:

-- Initial data readout from FPI-1434 Phase 1 trial is expected within 3 to 6 months after the company resumes clinical activities following operating disruptions caused by COVID-19.

-- Submission of IND for FPI-1966 is expected to be approximately six to twelve months after the company resumes preclinical activities.

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