Septerna valued at $970 million as shares rise nearly 31% in Nasdaq debut
Adds details on US IPO market in paragraphs 5 and company background in paragraphs 8, 10
Oct 25 (Reuters) -Septerna's SEPN.O shares rose about 31% in their market debut on Friday, giving the Goldman Sachs-backed biotech firm a valuation of $970 million.
The company's shares opened at $23.5 in their Nasdaq debut, compared with the IPO price of $18. Septerna upsized its offering twice on Thursday to sell 16 million shares, to raise $288 million.
Biotech firms' public listings have received a warm reception from investors this year, with September being one of the busiest months for healthcare IPOs, as per Dealogic data.
Biotechnology firms MBX Biosciences MBX.O and TPG-backed Bicara Therapeutics BCAX.O went public last month, with shares trading 33% and 25.6% above their IPO prices, respectively.
The Federal Reserve's move to begin monetary policy easing last month, along with an ebullient equity market are key aspects set to guide investor optimism for fresh listings entering the market this fall.
California-based Septerna is developing therapies targeting G-protein-coupled receptors (GPCR), a class of proteins that serve as a main conduit for chemicals to get past a cell's membrane and be taken up by a cell.
GPCR can influence broad physiological processes such as metabolism, secretion, cell growth, and immune responses.
The company will use proceeds to advance its research and develop its products, including SEP-786, its lead candidate for treating hypoparathyroidism, a condition that disrupts calcium levels in the blood and bones.
J.P. Morgan, TD Cowen, Cantor and Wells Fargo Securities are acting as the joint bookrunners for the IPO.
Goldman owns a 5.4% stake in the company, while healthcare-focused venture capital firm Third Rock Ventures holds 33.5%.
Reporting by Pritam Biswas in Bengaluru; Editing by Vijay Kishore
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
