Mikko Lemola
Third Harmonic Bio (THRD) has set terms for a proposed $153M initial public offering.
The biotech company said in a filing that it is looking at offering 9M shares priced between $16 and $18, which would raise around $153M if priced at the midpoint.
Underwriters would be granted an option to buy up to 1.4M additional shares to cover any overallotments. Morgan Stanley, Jefferies and Cowen are serving as lead bookrunners. Third Harmonic hopes to list its shares on Nasdaq under the symbol THRD.
Based in Cambridge, Mass., Third Harmonic’s lead product, THB001, is a KIT inhibitor being developed as a possible treatment for chronic uticaria, also known as hives.
The biotech group is currently operating in the red. For 2021, it reported a net loss of $30M and no revenue.
Last month, Third Harmonics said it was looking to raise around $150M.
Image and article originally from seekingalpha.com. Read the original article here.