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This Week's Healthcare IPOs

dyne sept16 lt

In the healthcare sector, two companies made their stock market debut in the first half of this month.

Listed below are the healthcare companies that are going public this week.

1. Dyne Therapeutics Inc.

Waltham, Massachusetts-based Dyne Therapeutics is a muscle disease company developing innovative life-transforming therapeutics using its proprietary FORCE platform for patients with genetically driven diseases.

The company is expected to go public on the Nasdaq Global Market, under the symbol "DYN" on September 17, 2020.

Dyne Therapeutics has offered to sell 10.3 million shares of its common stock in the offering, and the underwriters have an option for a period of 30 days to purchase 1.545 million additional ordinary shares.

The initial public offering price is expected to be between $16 and $18.00 per share.

Underwriters:

J.P. Morgan Securities LLC, Jefferies LLC, Piper Sandler & Co., Stifel, Nicolaus & Company, Inc.

Pipeline and Near-term Catalysts:

Dyne Therapeutics is focused on developing drugs for three indications - myotonic dystrophy type 1, or DM1, Duchenne muscular dystrophy, or DMD, and facioscapulohumeral dystrophy, or FSHD - all of which are under preclinical testing.

The investigational New Drug Applications for the product candidates for all the three indications are expected to be submitted between the fourth quarter of 2021 and the fourth quarter of 2022.

2. COMPASS Pathways plc

The Cheshire, United Kingdom-based COMPASS Pathways is a mental health care company developing psilocybin therapy for treatment-resistant depression, or TRD symptoms.

The company plans to list its American Depositary Shares (ADSs) on the Nasdaq Global Market under the symbol "CMPS" on September 18, 2020.

COMPASS Pathways has offered to sell 6.7 million ADSs in the offering at price expected to be between $14.00 and $16.00 per ADS, and the underwriters have an option for 30 days to purchase up to 1.005 million additional ADSs.

Underwriters of the IPO:

Cowen and Company, LLC, Evercore Group L.L.C., Berenberg Capital Markets LLC,Canaccord Genuity LLC, H.C.Wainwright & Co., LLC

Pipeline & Near-term Catalyst:

The company's investigational drug COMP360 is a proprietary, high-purity polymorphic crystalline formulation of psilocybin, which is being evaluated in conjunction with psychological support in a phase IIb trial for the treatment-resistant depression.

The data from this phase IIb trial is expected in late 2021.

3. Athira Pharma

Athira Pharma is a late-stage biopharmaceutical company developing small molecules to restore neuronal health and stop neurodegeneration.

The Seattle, Washington-based company is scheduled to make its debut on the Nasdaq Global Select Market under the symbol "ATHA" on September 18, 2020.

Athira Pharma has offered to sell 10.0 million shares of common stock in the offering at a price expected to be between $15.00 and $17.00 per share. The underwriters have an option for 30 days to purchase up to 1.5 million additional shares.

Underwriters of the IPO:

Goldman Sachs & Co. LLC, Jefferies LLC, Stifel, Nicolaus & Company, Inc, JMP Securities LLC

Pipeline:

Athira's lead candidate, ATH-1017, has been successfully studied in phase Ia and phase Ib trials for the treatment of Alzheimer's disease.

Also in the pipeline are two preclinical candidates - ATH-1019, which is being advanced to address depression, and ATH-1018, which is being advanced to address peripheral neuropathy.

Near-term Catalysts:

-- Initiation of a phase II/III clinical trial for ATH-1017 for the treatment of mild-to-moderate Alzheimer's, dubbed LIFT-AD, by the end of 2020, with topline results expected by the end of 2022.

-- Initiation of a phase II clinical trial of ATH-1017 in mild-to-moderate Alzheimer's, dubbed P300, by the end of 2020, with topline results expected by early 2022.

-- Initiation of Phase 2 clinical trial of ATH-1017 for the treatment of Parkinson's disease dementia, or PDD, is expected by the end of 2021.

-- Filing of INDs for ATH-1019 for the treatment of neuropsychiatric indications is expected in the first half of 2022 and for ATH-1018 for neuropathy is expected by the end of 2022.

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