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IPO Lockup Expiration Alert: Fusion Pharmaceuticals (FUSN)

fusionpharmaceuticals dec22 lt

The lockup period of Fusion Pharmaceuticals Inc. (FUSN) ends on December 23..

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.

The company has an agreement with AstraZeneca (AZN) that was inked as recently as November 2 to develop and commercialize next-generation alpha-emitting radiopharmaceuticals and combination therapies for the treatment of cancer.

The lead clinical candidate FPI-1434,designed to deliver alpha particles to cancer cells, advanced into the multi-dose portion of the phase I study in patients with advanced solid tumors earlier this month.

FPI-1434 is also being explored in combination with checkpoint inhibitors and DNA damage response inhibitors or DDRIs, including PARP inhibitors, for the treatment of solid tumors. Initiation of a phase I combination study with FPI-1434 is expected six to nine months following determination of the recommended phase II dose of FPI-1434 monotherapy.

Fusion Pharma is also planning to advance its pre-clinical compound FPI-1966 into clinical development next year. FPI-1966 is designed to target and deliver Actinium-225 to tumors expressing FGFR3, a protein that is overexpressed in head and neck and bladder cancers. An IND for FPI-1966 is expected to be submitted in the first half of 2021.

The company made its debut on The Nasdaq Global Select Market on June 26, 2020, offering its shares at a price of $17 each.

As mentioned above, the 180 day lockup period expires tomorrow.

FUSN opened the first day of trading (i.e. June 26, 2020) at $18.50 and closed at $17.00 that day. The stock has thus far hit a low of $11.40 and a high of $19.00.

FUSN closed Tuesday's trading at $11.86, down 2.55%

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