logo
Plus   Neg
Share
Email

IPO Alert: Healthcare IPOs Slated For Oct.30

ipo oct29 lt

The number of healthcare firms that have gone public on the U.S. stock exchanges so far this month is 17.

Let's take a look at the IPOs scheduled for Friday (Oct 30).

1. SQZ Biotechnologies

Watertown, Massachusetts-based SQZ Biotechnologies is a clinical-stage biotechnology company developing transformative cell therapies for patients with cancer, infectious diseases and diabetes.

SQZ Biotechnologies is scheduled to list its stock on NYSE, under the symbol "SQZ", on October 30, 2020.

The company has offered to sell 4.41 million shares in the offering - with the initial public offering price expected to be between $16.00 and $18.00 per share. The underwriters have a 30-day option period to purchase up to 662 thousand additional shares.

Underwriters of the IPO:

BofA Securities, Inc., Evercore Group L.L.C. and Stifel, Nicolaus & Company, Inc., BTIG LLC

Pipeline and Near-term Catalysts:

The company's product candidates are based on its proprietary platforms namely, SQZ Antigen Presenting Cells, SQZ Activating Antigen Carriers and SQZ Tolerizing Antigen Carriers.

The lead product candidate from the SQZ Antigen Presenting Cells platform is SQZ-PBMC-HPV, which is under a phase I clinical trial as a monotherapy and in combination with other immuno-oncology agents for the treatment of HPV16+ advanced or metastatic solid tumors, including cervical, head-and-neck, anal, penile, vulvar and vaginal cancer.

Dosing of patients in the monotherapy cohorts of the SQZ-PBMC-HPV trial is underway, with the combination portion of the trial expected to be initiated in the first half of 2021. Initial data from the phase I trial is expected in the second half of 2021.

The other candidates under the SQZ Antigen Presenting Cells platform are SQZ-PBMC-X for solid tumors, next-generation SQZ APC for solid and liquid tumors, SQZ-IDI for chronic infectious diseases and SQZ-RRV that enables rapid response vaccine, all under preclinical testing.

Under the second platform, SQZ Activating Antigen Carriers, an autologous product candidate, meaning it uses a patient's own red blood cells, is being developed for the treatment of HPV+ tumors. An Investigational New Drug Application for the first product under this platform is expected to be submitted this quarter, with initial data anticipated in the second half of 2021.

The other product candidates under the SQZ Activating Antigen Carriers platform are SQZ-AAC-KRAS for solid tumors harboring KRAS mutation and next-generation SQZ AAC for solid and liquid tumors, both under preclinical testing.

The third platform, SQZ Tolerizing Antigen Carriers, focuses on immune tolerance. The product candidates under this platform are SQZ-TAC-AAV for enabling of gene therapy vector repeat dosing, SQZ-TAC-T1D for Type 1 diabetes, and next-generation SQZ-TACs for multiple diseases, all under preclinical testing.

Collaboration:

Last November, SQZ Biotech entered into a research collaboration with Asklepios BioPharmaceutical, Inc. , a privately held, clinical-stage gene therapy platform company, to create Immune Tolerization products for AAV (adeno-associated virus) gene therapies. SQZ Biotech also has a cell therapy partnership with Roche to develop antigen presenting cells for immune-oncology.

2. Atea Pharmaceuticals

Atea Pharmaceuticals, founded in 2014, is a clinical-stage biopharmaceutical company developing antiviral therapeutics for life-threatening viral infections.

The Boston, Massachusetts-based company is scheduled to go public on the Nasdaq under the symbol "AVIR" on October 30, 2020.

The company has offered to sell 11.0 million shares in the offering - with the initial public offering price expected to be between $22.00 and $24.00 per share. The underwriters have a 30-day option period to purchase up to 1.65 million additional shares.

Underwriters of the IPO:

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Evercore Group L.L.C. and William Blair & Company, L.L.C

Pipeline:

-- AT-527, the most advanced product candidate, is currently in a phase II trial in approximately 190 adult patients with SARS-CoV-2, which causes COVID-19. Recently, Atea Pharmaceuticals granted exclusive right for Roche to develop AT-527 outside the United States.

--AT-752 for the treatment of dengue virus - a mosquito-borne viral infection, has completed the preclinical testing.

-- AT-787 for the treatment of chronic HCV infection. This compound is a novel combination of AT-527 and AT-777.

AT-889 and AT-934 for the treatment of respiratory syncytial virus, under discovery stage.

Collaboration:

Atea has a strategic collaboration with Roche that was inked as recently as October 22, 2020, under which Roche has the exclusive right to develop and distribute AT-527 outside of the United States.

Near-term Catalysts:

-- Interim safety data from the phase II trial of AT-527 in COVID-19 are expected prior to the end of this year, with topline data anticipated in the first half of next year.

-- Submission of an investigational new drug application for AT-752 to the FDA or Clinical Trial Application for that compound to one or more competent authorities outside the United States is planned for the first half of 2021. Upon clearance, a phase I study of AT-752 in healthy adult subjects is expected to be initiated in the first half of 2021.

3. Inhibikase Therapeutics

Atlanta, Georgia-based Inhibikase Therapeutics is a clinical stage pharmaceutical company biotech developing therapeutics kinase inhibitors for Parkinson's disease and related disorders.

The company, which was founded in 2008, plans to go public on the Nasdaq Global Market, under the symbol "IKT" on October 30, 2020.

Inhibikase Therapeutics has offered to sell 2.27 million shares in the IPO, priced between $10 and $12 per share. The underwriters have an option for 45 days to purchase 340,909 additional shares.

Underwriters of the IPO:

ThinkEquity, a division of Fordham Financial Management, Inc., Paulson Investment Company, LLC

Pipeline:

--The lead candidate is IkT-148009 for the treatment of newly diagnosed Parkinson's disease (PD) patients, patients early in the course of PD, and PD patients with GI complication and related disorders.

A phase I trial of IkT-148009 for the treatment of Parkinson's disease was initiated in 2019, with the dosing expected to commence shortly after the conclusion of the IPO.

IkT-001Pro for the treatment of Chronic Myelogenous Leukemia. An IND seeking FDA clearance to initiate clinical development for IkT-001Pro is expected to be submitted in the first quarter of 2021.

The company also has a couple of compounds in the research phase namely IkT-148x for the treatment of Dementia with Lewy Body and for Multiple System Atrophy, and IkT-1457 for the treatment of Progressive Multifocal Leukoencephalopathy.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT