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DICE Therapeutics To Debut On Nasdaq Today

dicetherapeutics sep15 lt

The South San Francisco, California-based DICE Therapeutics, Inc. will be making its debut on the Nasdaq Global Market today (September 15), under ticker symbol "DICE".

Founded in 2013, DICE Therapeutics is a biopharmaceutical company developing oral therapeutics against chronic diseases in immunology and other therapeutic areas based on its proprietary technology platform known as DELSCAPE.

The company has offered to sell 12.0 million shares in the IPO at a price of $17 each. The underwriters have a 30-day option to purchase up to 1.8 million additional shares. The aggregate gross proceeds are expected to be $204.0 million.

The offering is scheduled to close on September 17, 2021.

Underwriters of the IPO:

BofA Securities, Inc., SVB Leerink LLC and Evercore Group L.L.C.

Pipeline and Near-term Catalysts:

The lead drug candidate, S011806, is an oral antagonist of the pro-inflammatory signaling molecule, interleukin-17 (IL-17), for psoriasis and variety of immunology indications. A Clinical Trial Application was filed with the Medicines and Healthcare Products Regulatory Agency in the UK in July 2021 and the company is planning to initiate a phase 1 clinical trial in healthy volunteers and psoriasis patients.

In addition, DICE has a couple of compounds in lead optimization stage for the treatment of immunology indications, inflammatory bowel disease (IBD) idiopathic pulmonary fibrosis (IPF), and immune-oncology.

The company is developing a therapeutic candidate for a clinically-validated immuno-oncology target through its partnership with Sanofi.

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