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IPO Roundup: Biotechs dominate this week's slate of 12 IPOs

Last updated: 12:07 18 Jun 2018 EDT, First published: 11:35 18 Jun 2018 EDT

IPO
The majority of companies are pricing their shares on Thursday

Wednesday

Eidos Therapeutics Inc (NASDAQ: EIDX) will be the first IPO of the week, pricing its shares Wednesday. The biotech is developing its drug candidate AG10 to treat transthyretin amyloidosis, a progressive condition in which abnormal protein deposits build up in the body’s organs and tissues. There is currently no Food and Drug Administration-approved treatment for this condition. In April, the company closed on US$64mln in financing. The company will issue more than 6.2 million shares priced between US$15 and US$17, raising as much as US$105mln.

Thursday

Avrobio Inc (NASDAQ:AVRO) will price its shares on Thursday. The clinical-stage company is developing gene therapies to treat rare diseases. Its lead candidate AVR-RD-01 is being developed to treat Fabry disease, an inherited disorder in which a patient lacks a working enzyme that breaks down fatty substances. The Massachusetts-based company will issue more than 4.4 million shares priced between US$16 and US$18, raising as much as US$79mln.

Magenta Therapeutics Inc (NASDAQ:MGTA) is another Massachusetts-based company pricing its shares this week. The biotech is developing therapies to make stem cell transplants more effective. The company aims to decrease the risks associated with bone marrow transplants to treat patients with autoimmune diseases, blood cancers and rare genetic diseases. More than 6.6 million shares will be issued, priced between US$14 and US$16 to raise as much as US$105mln.

Blank-check company LF Capital Acquisition Corp (NASDAQ:LFACU) will price its shares Thursday as well. The special purpose acquisition company is looking to scoop up fintech companies. Far Point Acquisition Corp (NYSE:FPACU) went public last week for the same purpose. The New York-based company will issue 13.5 million shares priced at US$10 to raise as much as US$135mln.

I3 Verticals Inc (NASDAQ:IIIV) is the latest fintech to file for an IPO. The digital payment processor provides payment software and services to small and medium businesses. Its vertical market focus includes education, healthcare, non-profit, public sector and other industries. The Nashville-based company will issue more than 6.6 million shares priced between US$11 and US$13 to raise as much as US$85.8mln.

Essential Properties Realty Trust Inc (NYSE:EPRT) will also price its shares Thursday. The property management company oversees 530 single-tenant retail properties in 42 states. The firm is led by former COO of Spirit Capital Inc Pete Mavoides. The company will issue 32.5 million shares priced between US$14 and US$17 to raise as much as US$552.5mln.

Xeris Pharmaceuticals Inc (NASDAQ:XERS) is another pharma company pricing shares this week. The specialty pharmaceutical firm develops ready-to-use injectable drugs. Its Glucagon Rescue Pen is designed to treat severe low blood sugar in people with diabetes. The Chicago-based company will issue 5 million shares priced between US$14 and US$16, raising as much as US$80mln.

Electrocore LLC (NASDAQ:ECOR) joins the group of healthcare-related companies pricing shares this week. The health care tech company is developing a nerve stimulation device to treat headaches. The non-invasive treatment is designed to alleviate migraines and cluster headaches in adults. The New Jersey-based company will issue more than 4.3 million shares priced between US$14 and US$16, raising as much as US$68.8mln.

Kezar Life Sciences Inc (NASDAQ:KZR) is the fifth biotech to price its shares. The clinical-stage company develops small molecule therapeutics. Its lead product candidate KZR-616 is designed to treat lupus nephritis and other autoimmune diseases. The San Francisco-based company will issue more than 4.6 million shares priced between US$14 and US$16, raising as much as US$73.6mln.

Aptinyx Inc (NASDAQ:APTX) joins a long list of biotech companies pricing shares. The clinical-stage company develops therapies for disorders of the brain and nervous system. Allergan plc (NYSE:AGN) recently acquired its depression drug AGN-241751 for further development.  The biopharma will issue more than 5.3 million shares priced between US$14 and US$16, raising as much as US$84.8mln.

Friday

Autolus Therapeutics Ltd (NASDAQ:AUTL) will price its shares on Friday. The company is developing a pipeline of treatments for blood cancer and solid tumor cancers. The London-based firm is a spin-off from University College London. The company will issue more than 7.8 million shares priced between US$15 and US$17, raising as much as US$132.6mln.

Dermadoctor LLC (NASDAQ:DDOC) will also price its shares at the end of the week. The e-commerce company develops a line of skincare products under the DERMAdoctor brand. There are more than 30 products in the line to treat a variety of issues from acne to dry skin. The company will issue more than 1.8 million shares priced between US$7 and US$9, raising as much as US$16.2mln.

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